Currency Strength and Weakness for Wednesday 17th September 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 CAD.

Overall there is weakness in the USD, JPY, NZD and EUR.


Trading Directions I am favouring for the next 24 hours


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

Sell Trades – EUR/AUD, EUR/CAD, NZD/CAD, USD/CAD


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 some suggestions


FREE FOREX WEBINARS THIS WEEK FOR NEW FOREX TRADERS
Click on my signature at the bottom of this post for more details.
There are 2 webinar times this week.


Regards
Andrew

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

 

[spunta]

Andrew

You don't think the AUD is a retracement? And will continue back down again?

Spunta

 

[Andrew Mitchem]

Andrew

You don't think the AUD is a retracement? And will continue back down again?

Spunta

Hi Spunta,

This would depend upon which AUD pair you are look at as it's hard to give an overall statement about the AUD.

If you look at the AUD/JPY or EUR/AUD as an example, I would suggest these are pairs where the longer term trend could now be back in play, whereas with the AUD/USD, I am looking for a retracement today.

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