Posts Tagged ‘Forex majors’
Monday, November 9th, 2009
The USDCAD traded in an undefined range for a while, but now it has broken a major support level indicating a strong bearish market condition:
USDCAD
This market condition is likely to continue until it hits the next long term support level at 1.0273, until then I will be looking for short trading opportunities.
My Trading Plan:
As long as the USDCAD keeps trading below 1.0606 I will be looking for short trading opportunities. All TP orders will be set above the next long term support level at 1.0273
All long opportunities will be ignored.
Trade Safe!
Raul Lopez
Tags: Canadian dollar, Forex majors, USDCAD Analysis
Posted in Technical | Comments Off
Thursday, October 29th, 2009
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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
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
Tags: Euro analysis, EURUSD Analysis, Forex majors
Posted in Technical | Comments Off
Monday, October 26th, 2009
This Monday has been difficult for most currency pairs because of the wild moves we saw in the EUR pairs, last Friday movements in the GBP pairs… Probably the best thing to do today is to look for the clearest trading opportunities, like the AUDUSD
Last Thursday we talked about the AUDUSD, we mentioned the market was trading in a short term range and it needed to break either side of the range to start looking for a trading opportunity. Well, just broke the bottom of the range:
AUDUSD
This puts the Aussie-dollar in a bearish market condition, looking for short trading opportunities.
My Trading Plan:
As long as the market keeps trading below 0.9193, I will be looking for short trading opportunities. All TP orders will bet set around 0.9022.
All long opportunities will be ignored.
Trade Safe!
Raul Lopez
Tags: AUDUSD Analysis, australian dollar, Forex majors
Posted in Technical | Comments Off
Friday, October 23rd, 2009
The AUDUSD is trading at an important long term resistance level (blue line):
AUDUSD
I would like to see the AUDUSD out of the short term range before think about opening a position here.
Here is my Trading Plan
If the Australian Dollar breaks the top of the short term range, I will be looking for long trading opportunities. All take profit orders will be placed below the next LT resistance level around 0.9638.
If the Australian dollar breaks the bottom of the range, I will be looking for short trading opportunities. All take profit orders will be placed above the next LT support level around 0.9022.
If the market keeps trading in between the ST range, I will do nothing.
Trade Safe!
Raul Lopez
Tags: AUDUSD Analysis, aussie analysis, australian dollar, Forex majors
Posted in Technical | Comments Off
Tuesday, October 20th, 2009
Even though the GBPUSD has been ranging in the last 4 or 5 trading sessions, we are still in a bullish market condition looking for long trading opportunities. Here is the chart:
GBPUSD
The pound-dollar broke the previous resistance level (now support), this should take it to the next long term resistance level around 1.6658.
My Trading Plan
As long as the Sterling keeps trading above 1.6276, I will be looking for long trading opportunities. All take profit orders will be set below the next resistance level around 1.6658.
All short opportunities will be ignored.
Trade Safe!
Raul Lopez
Tags: Forex majors, GBPUSD Analysis, pound, pound analysis
Posted in Technical | Comments Off
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
Tags: Canadian dollar, core CPI, Euro analysis, EURUSD Analysis, Forex majors, USDCAD Analysis
Posted in Technical | Comments Off
Wednesday, October 14th, 2009
Looks like the USDCAD will head for parity. The market traded in a range for a few days, that’s the kind of behavior we usually see when the market reaches an important level. But right now, it looks like the USDCAD is out of that range. Take a look at the next chart:
USDCAD
My Trading Plan:
As long as the USDCAD keeps trading below the 1.0268 I will be looking for short trading opportunities. All take profit orders will be set above the parity (strong support is expected around that zone).
All long opportunities will be ignored.
Trade Safe!
Tags: Canadian dollar, Forex majors, USDCAD Analysis
Posted in Technical | Comments Off
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
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
Tags: Euro analysis, EURUSD Analysis, Forex majors
Posted in Technical | Comments Off
Tuesday, October 6th, 2009
Since the first days of August the USDCAD has been trading in a range in between 1.0659 and 1.1067, but today is out of it. Take a look at the next chart:
USDCAD
In the chart above is clear that the USDCAD is out of that range, this puts the USDCAD in a bearish market condition.
My Trading Plan:
As long as the market keeps trading below 1.0622 I will be looking for short trading opportunities. All my TP orders will be placed above the next long term support level around 1.0319
All long opportunities will be ignored.
Trade Safe!
Raul Lopez
Tags: Canadian dollar, Forex majors, USDCAD Analysis
Posted in Technical | Comments Off
Wednesday, September 30th, 2009
The AUDUSD kept trading in a very tight range in the last 2 weeks. But earlier today the Aussie broke that range for the upside, this is what I got:
AUDUSD
Now that it is out of that range, we entered a bullish market condition and should be looking only for long trading opportunities.
My Trading Plan:
As long as the AUDUSD keeps trading above 0.8781 I will be looking for long trading opportunities. All TP orders will be placed below the next long term resistance level around 0.9006
All short trading opportunities will be ignored.
Trade Safe!
Raul Lopez
Tags: AUDUSD Analysis, aussie analysis, australian dollar, Forex majors
Posted in Technical | Comments Off
Tuesday, September 29th, 2009
There has been a few changes in the GBPUSD since last week, the market was rejected from 1.5822 a previous important level, so I decided to move my long term level to that area. Here is what I got:
GBPUSD
Based on this analysis, the GBPUSD (pound-dollar) is in a bullish market condition and we should be looking for long trading opportunities.
My Trading Plan:
As long as the market continues to trade above 1.5911, I will be looking for long trading opportunities and will set all my TP orders below the next long term resistance level around 1.6156
All short trading opportunities will be ignored.
Trade Safe!
Raul Lopez
Tags: Forex majors, GBPUSD Analysis, pound, pound analysis
Posted in Technical | Comments Off
Monday, September 28th, 2009
Earlier we talked about the consolidation period of the EURUSD, please take a look at the next chart:
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
Tags: Euro, EURUSD Analysis, Forex majors
Posted in Technical | Comments Off