Posts Tagged ‘EURUSD Analysis’

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EURUSD: Retracement it is…

Tuesday, February 9th, 2010

Since last December the EURUSD has been falling like a rock, it follow through on January and the first days of February. But we might be on the way of a small retracement (at least to the next LT resistance level):

EURUSD

EURUSD

It broke the resistance of the short term range and it is likely to continue its way up until it reaches at least, the next LT resistance level.

My Plan:

Look for long opportunities if the EURUSD keeps trading above 1.3707. Next LT resistance level is at 1.3846

All short opportunities will be ignored.

Trade Safe

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

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EURUSD: Trading at an Important Level

Monday, February 1st, 2010

If you take a look at the EURUSD daily or 4H chart it will look as if it was already rejected from the LT support level, but it hasn’t… yet:

EURUSD

EURUSD

I think it would be safer to start looking for long opportunities when the EURUSD breaks the 1.3927 for the upside (it’s pretty close though), only then I will be looking for long opportunities.

Trade Safe!
Raul Lopez

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EURUSD: Long Term Outlook

Thursday, January 21st, 2010

What do you think about EURUSD movements in the last two days? Interesting aren’t they (and better if you were short). I was thinking about how the EURUSD weekly chart would look like, and here are my conclusions:

EURUSD

EURUSD

- It started to range at the long term support level, first it broke the shorter term range for the upside, triggering a bullish market condition, but then it came back to the range.

- Then it (strongly) broke through the important LT support level and it will probably continue in this way until it hits the next LT support level.

Now, remember we are talking about the weekly charts, and it could take the EURUSD a few weeks to get there. What we are sure though is that it is in a very clear bearish market condition in the 1W charts.

Trade Safe!
Raul Lopez

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EURUSD: Trading at an important level

Monday, January 18th, 2010

The EURUSD its been trading in a medium term range in between 1.4508 and 1.4316. Apparently it is being rejected from the support level at 1.4316:

EURUSD

EURUSD

We need further confirmation though to start looking for opportunities, because right now it is trading near the short term resistance level.

My Plan:

If the EURUSD breaks 1.4387 for the upside I will be looking for long trade opportunities

If the Euro breaks 1.4335 for the downside I’ll be looking for short trade opportunities.

Trade Safe
Raul Lopez

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EURUSD: Trading near a long term level, waiting for breakout

Monday, January 11th, 2010

Hope you all had a great and relaxed weekend because I think we could see pretty interesting moves this week.

The EURUSD is trading near a long term support level, 1.4517 and it has created a short term range in between 1.4540 and 1.4488:

EURUSD

EURUSD

We need a further confirmation in order to start looking for a trade opportunity.

My Trading Plan:

If the EURUSD breaks 1.4540 for the upside, I will be looking for long trade opportunities.

If the EURUSD breaks 1.4488 for the downside I’ll be looking for short trade opportunities.

I will do nothing it the Euro keeps trading in between the short term range.

Trade Safe!
Raul Lopez

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EURUSD: Bearish and looking for short opportunities

Monday, December 14th, 2009

Even though there has been a small retracement in the EURUSD in this session, we are still in a bearish market condition:

EURUSD

EURUSD

Last Friday the Euro broke an important resistance level, so it is likely to continue its way down until it reaches the next long term support level around 1.4517.

Here is my trading plan:

As long as the EURUSD trades below 1.4683 I will be looking for short trade opportunities. My next LT support level is at 1.4517

All long opportunities will be ignored.

Trade Safe!
Raul Lopez

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EURUSD: See you at 1.5310

Wednesday, November 25th, 2009

Finally the EURUSD broke the top of the 4H range it traded for about 2 weeks:

EURUSD

EURUSD

It is in a clear bullish market condition, meaning only long opportunities are in play.

Here is my trading plan:

As long as the EURUSD keeps trading above 1.5038 I will be looking for long trade opportunities. The next long term resistance level is around 1.5340

All short opportunities will be ignored.

Trade Safe!
Raul Lopez

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EURUSD and USDCHF: both trading in a 4H range

Monday, November 23rd, 2009

Both the EURUSD and the USDCHF are trading in a 4H range; please take a look at the next charts:

EURUSD & USDCHF

EURUSD & USDCHF

Does it mean that these to currency pairs are not tradable today?

Nope, remember how we define the market condition, how the market reacts to important long term support and resistance levels, for instance, if the USDCHF gets rejected from the LT support level, we’ll be in a bullish market condition and if the EURUSD gets rejected from the resistance level, we´ll all be in a bearish market condition.

So today I’ll be looking for a trade in the direction of the market condition (if I get a good risk-reward ration on my trades).

Trade Safe
Raul Lopez

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More ranges…

Tuesday, November 10th, 2009

Ahhh man, I thought that after the NFP announcement last Friday we were going to see more trading opportunities, but that’s not the case. Last week most pairs ranged, in the first two days of the week we have more ranges, just one opportunity: Short USDCAD (we wrote about this yesterday), but in the others… nothing for no one….

Trade opportunities:

USDCAD – Short

Trading at an important level:

EURUSD
USDCHF
USDJPY
EURGBP
GBPCHF
EURJPY

Not clear market condition:

GBPUSD
GBPJPY
NZDUSD

However, remember we got 6 pairs trading at important levels, as soon as they get out of the short term range, we’ll be trading them. Anyway, remember we are not supposed to trade every day, we are supposed to trade when we really have a good chance to win.

Trade Safe!

Raul Lopez

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Good Trading Opportunities for today

Tuesday, November 3rd, 2009

free trading sessions (which you can subscribe from here).

Today the market is clearer than yesterday, we have plenty of trading opportunities in the EURUSD, USDCHF, USDCAD, GBPCHF and more. Please see the video for details.

In this video: Daily analysis on major forex currency pairs (and some crosses):

If you cant see this video you need to download this codec

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GDP and more

Thursday, October 29th, 2009

The US GDP was announced earlier this morning, and it came out better than expected (3.5% vs. 3.2%). For the first time in more than a year the US is showing an expansion, this makes traders and investors think about the recovery of the world crisis, is it over? I don’t know, but certainly this is very good news for all of us.

We know everyone’s main focus right now is at GDP numbers, last Friday, we the market took a big impact because of UK’s GDP, today the same happened on the US figures, so expect a lot of impact in future GDP releases.

Now, about technical analysis, I would say the best thing to do in the Forex Majors is to wait for the next week, then I think we’ll have a clearer market condition. Something interesting could be developing in the EURUSD and USDCHF, but we’ll have to wait for further confirmation.

My main focuses right now are:

GBPCHF, which is in a clear bullish market condition and I’m looking for long trading opportunities, and

EURGBP, which is in a clear bearish market condition, and looking for short opportunities.

Trade Safe

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EURUSD: Bearish, looking for short opportunities

Thursday, October 29th, 2009

Dont forget to register to our FREE Trading Room

Since last Monday we had a wild downside movement in the EURUSD, but it entered into a congestion zone where it was difficult to find clear support or resistance level, thus being difficult to trade.

This morning the EURUSD broke that congestion zone, and it is clearer now:

EURUSD

EURUSD

We might have a small retracement, but it is in a clear bearish market condition. And what is more interesting is that the next LT support level is a few hundred pips away :)

My Trading Plan:

As long as the Euro keeps trading below 1.4761 I will be looking for short trading opportunities. All take profit orders will be placed above the next support level: 1.4515

All long trading opportunities will be ignored.

Trade Safe

Raul Lopez

Dont forget to register to our FREE Trading Room

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EURUSD & USDCAD Update, after Core CPI

Thursday, October 15th, 2009

The EURUSD continues to trade in a bullish market condition, I’m still long here and I think I will hold this trade until it reaches 1.5300ish. Today the market had a retracement, after the core CPI announcement, luckily it didn’t broke the short term support level. Still looking to add positions.

The USDCAD yesterday was in a bearish market condition, it broke the short term range for the downside but it came back up. So right now I have widened up the short term range and waiting again for the market to break either side of it 1.0356 – 1.0207. If the market breaks the ST resistance level, I will be looking for long trading opportunities. If the market breaks the support level I will be looking for short trading opportunities.

Trade Safe!

Raul Lopez

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EURUSD: Finally, in a Bullish Market Condition, will it reach 1.5346?

Wednesday, October 14th, 2009

Its been a while since the last time I placed a trade in the EURUSD, but now, apparently it wants to head up. But, how high could it go? Well, my next long term resistance level is at 1.5346, so we’ll probably see the EURUSD trading at those levels in the following days/weeks.

EURUSD

EURUSD

Right now it is trading in a short term range around 1.4859 and 1.4802. We’ll see what happens.

My Trading Plan:

As long as the EURUSD keeps trading above 1.4800 I will be looking for long trading opportunities. All take profit orders will be placed below the next LT resistance level around 1.5346.

All short opportunities will be ignored.

Trade Safe!

Raul Lopez

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EURUSD: Consolidation period

Monday, September 28th, 2009

Earlier we talked about the consolidation period of the EURUSD, please take a look at the next chart:

EURUSD

EURUSD

We have one problem though, the consolidation period is not very well defined, so we need to widen up the main support and resistance level. Anyway, we need to wait for the market to break either the support or resistance level to start looking for a trade opportunity.

My Trading Plan:

If the market breaks 1.4858, I will be looking for long trading opportunities.

If the market breaks 1.4593, I will be looking for short trading opportunities.

If the market keeps trading in between 1.4858 and 1.4593, I will do nothing (cant trade this range as it is not very well defined).

Trade safe!

Raul Lopez

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