Currency Strength and Weakness for Wednesday 21st May 2014

Andrew Mitchem

Special Consultant to the FPA
Messages
2,147
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.


Yesterday I suggested we trade looking for a weak AUD$ and that is exactly what happened. Today I am looking for more of the same.

Overall the strength remains in the USD, GBP, CHF and JPY.

Overall the weakness remains in the AUD, NZD and CAD.


Trading Directions I am favouring for the next 24 hours


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

Sell Trades - AUD/USD, AUD/JPY, AUD/CHF, EUR/JPY, CAD/JPY, CAD/CHF, NZD/USD, NZD/JPY, NZD/CHF


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


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

Learn how I do it>>

 
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4xpipsense

Private
Messages
25
Thank you Mr. Andrew. I think AUD/USD has a nice set-up here.
My eyes are open for the pair in today's trade.

It really tally with my little system.
 

Di Wardman

Recruit
Messages
3
Hi Andrew...Thanks for the great insights...I always use your advice to guide me and so far mostly spot on...Can you please advise which trading session you use for this analysis and do you generally place long day trades...Or does this vary from time to time....Thanks Again.:confused:
 

debs

Private
Messages
19
Hi Andrew,
Thank you for your trading recommendations. It is really helpful for me.
But i don't usually get in the direction you suggested on time as i usually wait for a retracement before following the trend you suggested but i noticed the direction would have gone and i will not be able to take the trade again. Please can you be a bit precise on the price range of any of the Currency pair where we can take either the BUY or SELL.

Thank you in anticipation of your helpful reply.

Debs
 

Andrew Mitchem

Special Consultant to the FPA
Messages
2,147
Thank you Mr. Andrew. I think AUD/USD has a nice set-up here.
My eyes are open for the pair in today's trade.

It really tally with my little system.
Hi,

I hope you were able to find some good positions yesterday.


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

Learn how I do it>>

 
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Andrew Mitchem

Special Consultant to the FPA
Messages
2,147
Listen mate...after 2 yrs..of not making any money...I'm actually starting to think your 'onto something'.!!??
Hi Brett,

Thanks for that. It took me almost 4 years to make anything!

Here are a few trades I took yesterday - patients and a willing to not give in pays off in the end.

Click here to view the trades.


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

Learn how I do it>>

 
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