Currency Strength and Weakness for Thursday 3rd February 2022

[Andrew Mitchem]

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.

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Overall there is strength in the GBP, with minor strength in the EUR and CHF

Overall there is weakness in the NZD, with minor weakness in the USD

Trading Directions I am favouring for the next 24 hours

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Use your own trading strategy and look to take trades that setup in the same direction as my daily analysis. If you don’t have a trading strategy, just CLICK HERE and I’ll send you some information to help you out.


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

Sell Trades – NZD/CHF, BTC/USD, ETH/USD, USD/PLN


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To Your Trading Success.
Andrew

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- Andrew Mitchem
The Forex Trading Coach
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[Keith201]

Hey Andrew thanks for sharing always makes and interesting read

 

[Andrew Mitchem]

Thanks Keith. You are welcome and I hope this helps.

 

[TheFX_TradingStudent]

NZDCHF is not playing out, daily candle straight up all day

 

[Andrew Mitchem]

NZDCHF is not playing out, daily candle straight up all day

View attachment 73575

That is very true, however, 2 observations from me:

1. It's easy to say this some 12 hours into the new day and 12 hours after I posted my analysis.
2. More importantly, it doesn't matter as I saw no suitable sell trades on the NZD/CHF today anyway, so if the prices moves the other way, it doesn't matter.

Remember that the analysis I post here are NOT specific trades - only my full coaching clients receive those.

 

[TheFX_TradingStudent]

As you said, it was an observation. I also observed (past tense of course) the minor strength in EUR was quite good.