Currency Strength and Weakness for Thursday 3rd April 2014

[Andrew Mitchem]

Hi Forex Trader,

I have just released the 13th chapter of my new book "From Dairy Farmer to Forex Trader" where I share my Forex journey. The aim of the book is to short cut your own learning process and to show you how anyone can become a profitable Forex trader if they really want to enough.

Chapter 13 "Webinar Tuition& The Video Course" is available to view on video, to listen to via an MP3 download or to read via a PDF file.

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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 AUD, USD, GBP and CAD.

Overall there is weakness in the NZD and CHF with minor weakness in the EUR.


Trading Directions I am favouring for the next 24 hours


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

Sell Trades - EUR/USD, NZD/CAD




Have a great day

Andrew

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

Hi Andrew, any idea why the NZD is showing so much weakness right now?

 

[Andrew Mitchem]

Hi Andrew, any idea why the NZD is showing so much weakness right now?

Hi Stan,

I think it was just too over-bought and is in need of a retracement. The NZD/USD bounced perfectly off the strong 0.8700 level and as you'd have seen on my posts here, I've been calling for it to drop for the last couple of days. It's likely to climb again soon but I can't make that call for certain until I see the price action confirm that.

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- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?
Learn how I do it>>