Currency Strength and Weakness for Thursday 20th November 2014

Andrew Mitchem

Special Consultant to the FPA
Messages
3,130
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.

Overall there is strength in the EUR, USD, GBP and CHF.

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


Trading Directions I am favouring for the next 24 hours


Buy Trades – EUR/JPY, EUR/AUD, EUR/NZD, GBP/JPY, GBP/AUD, GBP/NZD, GBP/CAD, CHF/JPY, USD/JPY, USD/CAD

Sell Trades – AUD/USD, AUD/CHF, NZD/USD, NZD/CHF, XAU/USD


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.



AMAZING FREE TRADING CALCULATOR:

Download your own FREE copy of my MT4 trading tool which will help you trade with low risk per trade, remove much of the emotion involved with taking trades and take away the focus on making "Pips". Click on the link in my signature below to get your copy.


Regards,
Andrew


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

Learn how I do it>>

 
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Hello Andrew,

I've been trying to reach you for some time through your support page, Skype and by email. I think the replies I am getting are automated but they do not answer my questions. I am having some difficulty with your system and would like to get some insight as the webinars are at an early hour NY time for me.
 
Thank you for the analysis. I think posting your daily bias is a wonderful job.
I have some concerns over today's analysis.

For example Buy trades such as EUR/NZD, GBP/AUD are at key resistance levels on my charts. Also Sell trades like AUD/CHF are at key support.
 
Thank you for the analysis. I think posting your daily bias is a wonderful job.
I have some concerns over today's analysis.

For example Buy trades such as EUR/NZD, GBP/AUD are at key resistance levels on my charts. Also Sell trades like AUD/CHF are at key support.

Hi rPIP,

Thank you for your comments. I agree with you about those pairs being near key support or resistance levels yesterday. I am not taking longer term trades on those particular pairs as the key levels you mentioned were likely to (an in reality did) get respected.

However throughout the day I was still favouring taking trades on those pairs in the directions indicated - if there were any suitable setups. There were a couple of good setups that I saw on the EUR/NZD and AUD/CHF that were profitable trades. I saw nothing suitable myself on the GBP/AUD yesterday.


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

Learn how I do it>>

 
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