Currency Strength and Weakness for Thursday 5th June 2014

[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.

Overall there is strength in the AUD and USD.

Overall there is weakness in the CAD, JPY and EUR.


Trading Directions I am favouring for the next 24 hours


Buy Trades – AUD/JPY, AUD/CAD, USD/JPY, USD/CAD

Sell Trades - EUR/AUD


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.


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Andrew

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

Maybe you were right the other day. It's getting to that point.

European Central Bank Cuts Deposit Rate to Negative

The European Central Bank cut its benchmark interest rate to a record low on Thursday and, in an unprecedented attempt to stimulate the euro zone economy, said it would begin charging interest on deposits held by the bank.
The so-called negative deposit rate has never been tried on such a large scale and is a bid to push down the value of the euro and encourage banks to invest excess cash rather than hoarding it in central bank vaults.
The European Central Bank cut its benchmark interest rate to 0.15 percent from 0.25 percent, and the deposit rate to minus 0.10 percent from zero.