Hi, I just want to share this nice daily analysis about the strength and weakness for several major currencies provided by Andrew Mitchem. This is not a direct buy and sell signal for you but with this analysis I can improve my trading performance day to day. It’s a free one.
For today, 7 March 2014 the analysis are the following:
- Overall there is strength in the NZD, AUD, EUR and CHF.
- Overall there is weakness in the JPY, USD and GBP.
With this analysis, I will look to open trades with the following directions:
- Buy Trades – EUR/USD, EUR/JPY, EUR/GBP, EUR/CAD, CHF/JPY, AUD/USD, AUD/JPY, NZD/USD, NZD/JPY, XAG/USD
- Sell Trades – GBP/AUD, GBP/NZD, GBP/CHF, USD/CHF
I always use my own trading strategy which is the hidden divergence before opening any trades.