Currency Strength and Weakness for Monday 2nd September 2013

Andrew Mitchem

Special Consultant to the FPA
Messages
3,139
Hi Traders,

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 on Monday in the USA and Canada so be careful if trading any pairs involving these currencies today. This could also lead to a slow start to the week all round.
There have been weekend gaps on many pairs starting the new week.


Overall there is minor strength in the GBP.

Overall there is minor weakness in the EUR and JPY.


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.



Buy Trades - NONE

Sell Trades - NONE

There are no pairs that are standing out as being particularly strong or weak given the recent price action and the weekend gaps.



WEEKLY FOREX TRADING VIDEO and iTUNES PODCAST: View my weekly Forex news video.
In this week's video I talk about:

"Do you have the right mind set to be a successful Forex Trader?"


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
30 minute a day "full time" forex trading?

Learn how I do it>>

 
Last edited by a moderator:
Thank you Mr. Andrew

As I've posted earlier on one of your daily threads, we all want to thank you for your commitment and we believe we'd become good Forex traders like you in the future. In total, I made about 4,600+ pips for the month of August 2013, and it all happened thanks to your daily posts. I hope FPA will keep you on this site for as long as possible, or at least till we can analyze currency strengths and weaknesses like you.

Many thanks.
 

Attachments

  • DetailedStatement_Page_1.jpg
    DetailedStatement_Page_1.jpg
    198.8 KB · Views: 26
  • DetailedStatement_Page_2.jpg
    DetailedStatement_Page_2.jpg
    211.4 KB · Views: 18
  • DetailedStatement_Page_3.jpg
    DetailedStatement_Page_3.jpg
    188.8 KB · Views: 25
Back
Top