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Currency Strength and Weakness for Monday 26th May 2014

Discussion in 'Andrew Mitchem- Daily Strengths and Weaknesses' started by Andrew Mitchem, May 25, 2014.

  1. Andrew Mitchem

    Andrew Mitchem Special Consultant to the FPA

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    Hi Forex Trader,

    I make my suggestions every day based on where I see the market heading over the next 24 hours. Use my analysis below to aid your trading and to help you keep on the right side of the market.

    My suggestions are posted by 6pm EST each day.

    There is a public holiday in the UK and the US today, so there is the likelihood of a quiet trading day to start the week.

    Overall there is strength in the CAD, AUD and USD.

    Overall there is weakness in the EUR, GBP, JPY and NZD.


    Trading Directions I am favouring for the next 24 hours

    IMPORTANT: Just to let you know that Monday's trade analysis, when the market opens at the beginning of the new week (Sunday if you are in the US/Europe) are usually the hardest to pick and if you wanted a day off trading, that would generally be the day to choose. The reason being; I am looking at the previous week's prices and the new open prices for the week when making my analysis on a Monday and of course many things can happen between the close of the market one week and the opening of the market the next week and the market sentiment can often change. Just bear this in mind each Monday (Sunday US time)



    Buy Trades – USD/JPY, CAD/JPY

    Sell Trades - EUR/CAD, GBP/CAD, NZD/CAD


    VERY IMPORTANT: These are not specific trades. Do not blindly place trades in the directions given above. Use your own trading strategy and look at taking setups that occur in the same direction as my daily analysis. If you don't have your own trading strategy then email me here for help.



    WEEKLY FOREX TRADING VIDEO and iTUNES PODCAST: Watch my weekly Forex news video.

    In this week's video I talk about:

    "The Importance of High Reward to Risk Trading and How it can make such a Huge Difference to Your Overall Trading Performance"


    Find out more by clicking on my signature at the bottom of this post.


    Have a great week ahead.
    Andrew


    - Andrew Mitchem
    The Forex Trading Coach
    Professional Forex Trader and Educator

    Watch My Weekly Video>>

     
  2. Xgen7

    Xgen7 Private, 1st Class

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    Thanks for the information Andrew.



    Xgen7
     
  3. Andrew Mitchem

    Andrew Mitchem Special Consultant to the FPA

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    Hi Xgen7,

    Thank you. I hope my analysis helps your trading.


    - Andrew Mitchem
    The Forex Trading Coach
    Professional Forex Trader and Educator

    About to Give Up? | From Frustrated to Profitable in the next 60 days - FREE Webinar>>

     

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