Currency Strength and Weakness for Thursday 9th March 2017 – Weakness in the CAD, NZD and AUD

Andrew Mitchem

Special Consultant to the FPA
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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 USD, with minor strength in the CHF, EUR and GBP


Overall there is weakness in the AUD, CAD and NZD




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 – EUR/AUD, EUR/NZD, EUR/CAD, GBP/CAD, USD/CAD


Sell Trades – AUD/USD, AUD/JPY, AUD/CHF, NZD/USD, CAD/JPY, CAD/CHF





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Andrew


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the sell recommendation in NDZ JPY Yesterday went completly wrong.For the first time since long it jumped from 79.10 to 79.50 in one move.I was stopped out and then it just dropped to my target at 79.0 later.i dont listen to any recommendation anymore.
thank you anyway for your work
 
Hello,

I don't think he is doing this for anyone for follow it blindly. This analysis he is doing is his own trading style. You can't just say you followed it without doing your own trading analysis. You sounded as if you followed it blindly. If he says NZD/USD will sell and your personal analysis says it will buy. You just need to follow yours, not his. The risk is yours.

Regards
 
Hello,

I don't think he is doing this for anyone for follow it blindly. This analysis he is doing is his own trading style. You can't just say you followed it without doing your own trading analysis. You sounded as if you followed it blindly. If he says NZD/USD will sell and your personal analysis says it will buy. You just need to follow yours, not his. The risk is yours.

Regards
Sure i dont follow blindly,but it was on a downtrend for long,actually it went down further.There is more to considee than weakness or strongness.
 
Sure i dont follow blindly,but it was on a downtrend for long,actually it went down further.There is more to considee than weakness or strongness.

Sometimes its the way trading goes. Can have all the confluence technically and fundamentally to go long, but if the markets decide to go short theres nothing you can do.
 
Sometimes its the way trading goes. Can have all the confluence technically and fundamentally to go long, but if the markets decide to go short theres nothing you can do.
Whats the point of giving recommendations then if i dont know how he comes to that conclusion.Fact is that he said its weak and exactly that day it went up.i can also post this and this pair is strong on a certain day .When the people cannot line up how i come tobthis its worth nothing.Weak or strong why?And how weak or strong?
 
It's not the first time this thing happens. I use to follow the recommendations on a daily basis and it happened pretty often that the trend goes on the opposite direction than the recommendations. I'm surprised you've noticed it only now.
 
Whats the point of giving recommendations then if i dont know how he comes to that conclusion.Fact is that he said its weak and exactly that day it went up.i can also post this and this pair is strong on a certain day .When the people cannot line up how i come tobthis its worth nothing.Weak or strong why?And how weak or strong?

He will have came to the conclusion by taking the previous day into account, has there been safe haven flows? Has there been weak data the central bank has had their eye on? has the central bank mentioned they are strengthening or easing off of their QE program? use his recommendations, see if you can find a fundamental reason to back it up. Check the economic calendar see if their is any news that day which may go against the way you are trading. If so move onto the next pair.
 
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