GBPUSD: Bullish, looking for long opportunities

March 11th, 2010

Apparently the GBPUSD was rejected from an important LT support level around 1.4955:

GBPUSD

GBPUSD

And now the GBPUSD is trading above the short term resistance level, triggering a bullish market condition. Therefore long opportunities are in play.

Trade Safe!

Raul Lopez
http://www.straightforex.com/

AUDUSD & NZDUSD – I don’t like what I see

March 11th, 2010

Usually the AUDUSD and the NZDUSD are closely correlated, when the Australian dollar is bullish, the New Zealand dollar tends to be also bullish (positive correlation), but this week hasn’t been the case:

AUDUSD & NZDUSD

AUDUSD & NZDUSD

As you can see in these charts, the AUDUSD is in a clear bullish market condition while the NZDUSD is in a bearish market condition, what do you think?

Trade Safe!

Raul Lopez
http://www.straightforex.com/

GBPCHF: Short opportunities in play

March 10th, 2010

It’s been a while since the last time we posted about the GBPCHF, it traded not in a very well defined range from Oct 90 to 20sh February, but now it is out of that range, it broke through the long term support zone:

GBPCHF

GBPCHF

It is also trading below every important level in the short term charts. So we are completely bearish in the GBPCHF.

Trade Safe!

Raul Lopez
http://www.straightforex.com/

EURUSD: Still ranging

March 9th, 2010

An image is worth a thousand words:

EURUSD

EURUSD

For those of you who only trade the EURUSD, this would be a good point to start looking at other currency pairs:

  • The EURUSD is trading in an undefined range
  • Not consistent S&R level
  • Not a good risk-reward ratio

So please try other currency pairs, something clearer and smoother (such as the AUDUSD?)

Trade Safe!

Raul Lopez
http://www.straightforex.com/

EURAUD – Trading at historical lows

March 9th, 2010

The EURAUD is trading at historical lows (and below every important level in the short term charts):

EURAUD

EURAUD

Under these circumstances it’s difficult to define the next LT support level (or TP level), there for we need to keep trailing the SL to lock in some profits.

Without a doubt I’m bearish in the EURAUD, and I will keep looking for more short opportunities.

Trade Safe!

Raul Lopez
http://www.straightforex.com/

CADJPY – About to be considered bearish

March 9th, 2010

The CADJPY just broke the short term support level, triggering a bearish market condition:

CADJPY

CADJPY

As long as it trades below 87.62 I will be looking for short trade opportunities. I will set my take profit orders just above the next LT support level around 85.55

Just make sure the CADJPY it’s trading below HOPS1.

Trade Sade!

Raul Lopez
http://www.straightforex.com/

AUDUSD: Still bullish and looking for long opportunities

March 8th, 2010

Looks like the AUDUSD is trading in a bullish market condition:

AUDUSD

AUDUSD

It is trading at a level where it could trigger a long signal (provided that we get the upward pressure we are looking for).

I’d like to see the AUDUSD trading above HOPS1 to continue looking for long opportunities.

Trade Safe!

Raul Lopez
http://www.straightforex.com/

EURUSD: still ranging, waiting for breakout

March 4th, 2010

This week’s fundamental announcements weren’t enough to make the EURUSD break the medium term range its been trading since early February:

EURUSD

EURUSD

Lets see of the range can hold tomorrow’s unemployment announcement.

I’m still waiting for the EURUSD to break either the top of the range (for longs) or the bottom of the range for short.

Trade Safe!

Raul Lopez
http://www.straightforex.com/

USDJPY: Still bearish

March 3rd, 2010

Tomorrow morning we’ve got important announcements for the GBP and the EUR (interest rates), so we must be careful on those currencies (and everything related such as GBPJPY, etc). So why not, the USDJPY it’s been trading smoothly in between S&R levels. I wrote about it yesterday, so here an update:

USDJPY

USDJPY

Still bearish, and looking for shot opportunities

ST levels to watch for possible short signals: 88.57 and 88.86

Trade Safe!

Raul Lopez
http://www.straightforex.com/

GBPUSD: Longs in play

March 3rd, 2010

I don’t like it when for instance a have a bearish market condition in the GBPJPY and a bullish market condition in the GBPUSD… but that’s what I have now, and to tell you the truth, I think the bullish condition in the GBPUSD will prosper:

GBPUSD

GBPUSD

As long as the GBPUSD trades above 1.4997 I will be looking for long opportunities (already found one, but I will be willing to add to this position if I get another chance).

The next LT resistance level is at 1.5267.

Trade Safe!

Raul Lopez
http://www.straightforex.com/