Currency Strength and Weakness for Thursday 16th May 2013

Andrew Mitchem

Special Consultant to the FPA
Messages
2,031
Hi Traders,

IMPORTANT NOTE: I will be on holiday in Singapore and India between 11th – 31st May. In that time I will be posting here as often as possible. Apart from times when I will be flying, I expect to be able to post here almost every day while away. In Singapore that will be 6am local time and in India I will be posting at 3:30am local time.

** I will not be posting here on Friday as I will be travelling at that time **


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.



Overall there is strength in the CHF, CAD and NZD.

Overall there is weakness in the AUD, EUR and USD.

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 – NZD/USD, NZD/JPY

Sell Trades – EUR/GBP, EUR/NZD, EUR/CAD, AUD/NZD

To Your Trading Success.
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:
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180
Apparently the NZDJPY happens to be the opposite. I've made over 100 plus pips this morning going short on NZDJPY.

There was a sharp drop on this pair. I got a sell signal from my strategy setup.
 
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