Currency Strength and Weakness for Monday 3rd June 2013

Andrew Mitchem

Special Consultant to the FPA
Messages
2,156
Hi Traders,

You can view my latest Weekly Trading Video by clicking on my signature below.

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.

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.

There is a public holiday in New Zealand today so be careful when trading the NZD.

Overall there is strength in the JPY and USD with minor strength in the GBP against some currencies.

Overall there is weakness in the NZD, AUD and CAD.


Trading Directions I am favouring for the next 24 hours

VERY IMPORTANT: These are not specific trades. Do not blindly place trades in the directions given below. 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

Buy Trades – GBP/NZD, GBP/CAD, USD/CAD

Sell Trades – AUD/USD, AUD/JPY, NZD/USD, NZD/JPY, CAD/JPY

There is a public holiday in New Zealand today so be careful when trading the NZD.

To a Profitable Trading Week for You.
Andrew


- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?

Learn how I do it>>

 
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Andrew Mitchem

Special Consultant to the FPA
Messages
2,156
Tanks , Andrew . i have my dobuts in AUD -USD. with the nes info..
Hi,

There were very few good selling opportunities yesterday with the AUD/USD so even though overall the pair went up, it didn't matter as there were no trades to take.

I hope this helps


- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?

Learn how I do it>>

 
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The_Snowman

Banned for uncivilized racist postings
Messages
38
Now that is an understatement for sure!!!

It rocket UP almost 200 pips, the only selling chance you mention are after USA close when none of these newbies around or if they were, probably they were buyers

Today you say sell, it goes up, tomorrow you will say BUY, it goes down for sure
 

Andrew Mitchem

Special Consultant to the FPA
Messages
2,156
Now that is an understatement for sure!!!

It rocket UP almost 200 pips, the only selling chance you mention are after USA close when none of these newbies around or if they were, probably they were buyers

Today you say sell, it goes up, tomorrow you will say BUY, it goes down for sure
I'm not really sure how sensible your comment is. The market does what it does and what I say is what I see. If the direction goes the other way then it does. All is simply means is that there are no suitable trade setups for that pair for that day - no harm done. I am not suggesting actual trades on this site - that information is strictly for my clients and not for the general public.


- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?

Learn how I do it>>

 
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