Currency Strength and Weakness for Wednesday 25th 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 CHF, EUR, JPY and EUR.

Overall there is weakness in the AUD, NZD and GBP.


Trading Directions I am favouring for the next 24 hours


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

Sell Trades - GBP/USD, GBP/JPY, GBP/CHF, NZD/USD, NZD/JPY, NZD/CHF, AUD/USD, AUD/JPY, AUD/CHF, AUD/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>>

 

[peeterwoolf]

Any suggestion on eur/usd?

 

[Andrew Mitchem]

Any suggestion on eur/usd?

Hi Peeter,

I don't see anything obvious right now on the EUR/USD - both currencies are showing some strength and the pair itself is hovering around the 1.3600 level without much direction.

If I was to trade that pair today, I'd need to see a strong candle pattern and it would likely be on the shorter t/f charts - H1 and below.

---

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

 

[ernest02]

Source of Information??

Hi Forex Trader,

My suggestions are posted by 6pm EST each day.


Overall there is strength in the CHF, EUR, JPY and EUR.

Overall there is weakness in the AUD, NZD and GBP.


Trading Directions I am favouring for the next 24 hours


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

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


I am not sure where you get your info about currency strengths from, but I was amazed that you saw strength in the CHF and JPY and weakness in the NZD, when I (and most others) saw just the opposite. This was born out when I made 40+ pips on BUYING (not selling) the NZDJPY and NZDCHF currency pairs.

 

[Xgen7]

Thank you Andrew,


Xgen7

 

[ernest02]

I am not sure where you get your info about currency strengths from, but I was amazed that you saw strength in the CHF and JPY and weakness in the NZD, when I (and most others) saw just the opposite. This was born out when I made 40+ pips on BUYING (not selling) the NZDJPY and NZDCHF currency pairs.

In the end the two currency pairs I played had a heck of a bullish run - each was closing in on profit of +- 100 pips. BUT it also showed me how fickle forecasting currency strengths are, because suddenly the weak Yen be came strong during the day today, and turned the tables on the NZD. When monitored on an hopurly basis one is amazed how currency strengths van vary during just one day. This is more like scalping to me!