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
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/
The USDCAD has been rejected from the main resistance zone around 1.0680:
USDCAD
It will probably continue its way down to the next LT support zone around 1.0412, therefore I will be looking for short opportunities.
Trading Plan:
As long as the USDCAD keeps trading below 1.0607 I will be looking for short trade opportunities.
Long opportunities will be ignored.
Trade Safe!
Raul Lopez
The NZDUSD has been trading in a short term range in the last few days, but apparently it is out of that range already triggering a bullish market condition:
NZDUSD
At least the short term resistance has been broken and therefore I am going to be looking for long opportunities until the market reaches the next LT resistance level.
My Plan:
As long as the NZDUSD keeps trading above 0.7093 I will be looking for long opportunities
All short opportunities will be ignored
Trade Safe!
Raul Lopez
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
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
Earlier this week I wrote about the AUDUSD being in a bearish market condition, but it came back and traded in a new range, well… it is again in a bearish market condition:
AUDUSD
My Trading Plan:
As long as the AUDUSD keeps trading below 0.8937 I will be looking for short trade opportunities.
All long opportunities will be ignored.
Trade Safe!
Raul Lopez
The USDCAD is trading at an important LT level:
USDCAD
We need to wait for the market to break either side of the range, then we’ll start looking for a trade opportunity.
My Plan:
If the USDCAD breaks the ST resistance level, it will trigger a bullish market condition and I’ll be looking for long opportunities.
If the Canadian Dollar breaks the ST support level, it will trigger a bearish market condition and I’ll be looking for short opportunities.
Trade Safe!
Raul Lopez
The USDJPY it’s been in a bearish market condition since de 21st of January, and it still has some room to continue its way down:
USDJPY
As long as the USDJPY continues to trade below 89.37 I will be looking for short trade opportunities.
And of course, all long opportunities will be ignored.
Trade Safe!
Raul Lopez
One of the pairs that have been trading in between consistent support and resistance levels in the last weeks is the AUDUSD:
AUDUSD
The AUDUSD just triggered a bearish market condition, so as long as the Aussie keeps trading below 0.8968 I will be looking for short trade opportunities. And of course, all long opportunities will be ignored.
Trade Safe!
Raul Lopez
Have you noticed that the EURUSD moved down a few hundred pips in the last days breaking important LT support levels, and even though the USCHF followed (mirroring due to the negative correlation) for the downside, but the later didn’t break important support levels? Weird isn’t it?
Anyway, looks like the USDCHF its being rejected from an important LT resistance level:
USDCHF
In the Weekly charts it is also trading just below an important LT resistance level which helps the bearish condition found in the daily charts.
My Trading Plan:
As long as the USDCHF keeps trading below 1.0421 I will be looking for short trade opportunities.
All long opportunities will be ignored.
Trade Safe!
Raul Lopez
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
- 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
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
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
Yesterday the GBPUSD was trading at an important long term level, but a few hours ago the pound broke through the short term resistance level triggering a bullish market condition:
GBPUSD
And there are plenty of pips before we hit the next LT resistance level, so I’ll be monitoring this one.
My Plan:
As long as the GBPUSD trades above 1.6300 I will be looking for long trades opportunities.
All short opportunities will be ignored
Trade Safe!
Raul Lopez
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
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
The GBPUSD traded in a range for a couple of days near an important long term resistance level, but now, it broke through the short term support level and is in a clear bearish market condition:
GBPUSD
My Trading Plan:
As long as the GBPUSD keeps trading below 1.6076 I will be looking for short trade opportunities.
All short signals will be ignored.
Trade Safe
Raul Lopez
