Have you noticed most JPY crosses are trading in a clear bullish condition? Really, I’m looking for long opportunities on almost all of them.
Also, on most of them the short term S&R levels are very clear, take a look at the CADJPY for instance:
I’d be looking for long opportunities around the bottom of the range.
What do you think?
Trade Safe!
Raul Lopez
Forex Coaching
Yeah I know… Banks were closed today in the US, so not much liquidity and most traders are waiting for tomorrow to open their trades (at least that’s what I’m doing).
One of the currency pairs I’ll be focusing tomorrow is the EURJPY:
I’d like to see the EURJPY retracing back to the main ST support level around 104.66 and if I get upward pressure around this level I’ll be going long!
What do you think about the EURJPY? Did you trade today? Let me know.
Good trading!
Raul Lopez
Forex coaching!
Did you notice the EURUSD already broke though an important ST support level? This support level has been an important level since the last week of January, where it was an important resistance level, when it broke through it, it became an important support level rejecting the market at least two times:
So as long as the EURUSD trades below 1.3044 I’ll be looking for short opportunities.
What do you think?
Good luck!
Raul Lopez
Forex coaching
What do you think about the GBPJPY? If you are looking for long opportunities I’m with you.
The GBPJPY is trading in a very clear bullish condition, it was clearly rejected from an important LT support level and it is likely to continue its way up.
Now, take a look at the short term charts:
It broke through an important ST resistance level, retraced back and now it is testing the support level.
Do you think it will hold? Let me know.
Good trading!
Raul Lopez
Forex Coaching
Happy Valentine’s day everyone!
What are your thoughts for the NZDCAD? Right now it is trading in a short term range, so for now range trading, but I‘ll be ready if it breaks either extreme of the range:
If it trades in between 0.8348 and 0.8264 I’ll keep trading the range, short opportunities around the top of the range and long opportunities around the bottom of the range.
If it breaks the upper resistance level, it will trigger a bullish market condition and only long opportunities will be in play.
If it breaks the bottom of the range (0.8264) I’ll only be looking for short opportunities.
What do you think?
Good luck!
Raul Lopez
Forex Training
Hope you all had a great weekend!
How do you think the market reacted to the Greece austerity plan? Truth be told, I thought the market was going to have larger swings… at least some of the pairs that traded the whole week on a very tight range…
Anyway, last week the AUDCAD broke through an important resistance level triggering a bullish market condition. Now I’m waiting a retracement to the ST support level:
And if it forms a significant pattern with upward pressure, I’ll be going long!
Have a great week ahead!
Raul Lopez
Forex Coaching
Yesterday I wrote about the EURUSD, I really felt comfortable going long. And guess what, I went long.
Now, I need to admit that it was a little risky, there was this important announcement about the European economy and whether or not European countries were going to support Greece. Luckily they ended up supporting him.
This is the chart:
The yellow line on the middle was my entry level, the one at the bottom is my SL. My TP orders is way up! My risk reward ratio of this trade is larger than 10:1.
I like the fact that the EURUSD it’s been supported by LOPS1. But only time will tell what happens with my trade.
What do you think? Let me know.
Good trading!
Raul Lopez
Forex Training
I think it’s getting close, I’m already in a bullish market condition on the EURUSD, I’m just waiting for a retracement to the ST support level (1.3215), get upward pressure and I’ll be going long:
You think is about time to long the EURUSD? Or are you even looking for trade opportunities on the Euro?
Please let me know.
Trade Safe!
Raul Lopez
Forex Training
Since last Thursday the market has been quieter than usual. I mean, on Friday we got the non-farm payrolls announcement, the market spiked and then stopped. Yesterday a small swing up, another down, and done. Today, it’s even quieter…
Looks as if something was cooking… ¿What do you think?
Anyway, I’m still focusing on the same pairs. I like the way the NZDUSD has been trading on the last few days: in a well defined short term range:
I’ll be looking for long opportunities around the bottom of the range.
Will you be trading the NZDUSD? Let me know.
Good Trading!
Raul Lopez
Forex Coaching
Have you been trading the EURUSD lately? I haven’t, but I think it’s about to give us good opportunities, at least on the short term charts. This is what I got on my hourly chart:
I’m still waiting for a confirmation of the support level, and if I get it, I’ll start looking for trade opportunities on both extremes of the range.
The other scenario is to wait for the EURUSD to break the top of the range. This will trigger a bullish market condition and I’ll be looking for long opportunities.
What do you think?
Good trading!
Raul Lopez
Forex Coaching
How did you do with the GBPUSD yesterday? Did you have a chance to trade it?
The NZDUSD is another currency pairs I’m currently looking for long opportunities, yesterday it wasn’t that clear (at least to me), and was waiting for it to break the ST resistance level, which finally did:
Now its trading in a very clear bullish condition and what I like the most about the NZDUSD is that its next LT resistance level is at 0.8817, it is currently trading at 0.8348, so we got plenty of room to find our long position.
Would you be trading this one? Let me know.
Good trading!
Raul Lopez
Forex Coaching
Yesterday I wrote about the GBPUSD, it was trading in a clear short term range. What I thought was interesting about the range is that it was formed near an important LT level. This means that once the market breaks the range, I’ll trigger a clear market condition, and this is what happened:
Yep, it broke the upper extreme of the range. This puts the GBPUSD in a VERY clear bullish market condition.
On easier words: I’ll be looking for long opportunities.
What do you think about the GBPUSD? Let me know.
Good trading!
Raul Lopez
Forex Course
Hope you all had a great weekend… ready to get some pips early this week? I am 
Anyway, if you like to trade ranges, specially short term ranges, take a look at the GBPUSD, on the short term charts, it has well defined support and resistance levels:
What do you think? Would it be worthwhile to trade this short term range? I think it is… In fact, I’m actually looking to trade the short term range…
Please share your thoughts…
Good trading!
Raul Lopez
Forex Training
These are a few of the currency pairs that I think will have clear swings:
NZDCAD – This one is a non brainer, it’s trending up. I’ll be looking for long opportunities. My next LT resistance level is at 0.8366.
EURAUD – As long as it trade below the ST resistance level of 1.2451 I’ll be looking for short opportunities.
GBPCAD – Same as the EURAUD, its trading in a very clear bearish condition, and as long as it trades below the ST resistance level of 1.5780 I’ll be monitoring it to see if I get my opportunity to short it.
GBPUSD – This week I looked for long opportunities here but now its in a different condition, it’s trading near an important LT level, and it won’t stay there for long, so I’ll be ready to look for trade opportunities in the direction of the eventual breakout.
I have other currency pairs that are about to be tradable, but I’ll rather wait for next week to get my confirmation.
What currency pairs will you be trading next week? Let us know.
Cheers!
Enjoy your weekend
Raul Lopez
Forex Coaching
I have, and honestly I still think there it will continue its way down. It’s been trading in a bearish condition and making historical lows for a while now. And you know what, if the market is going down, I’ll keep looking for short opportunities (I stopped trying to pick bottoms a long time ago):
So as long as the EURAUD keeps trading below 1.2451 I’ll be looking for short opportunities.
Do you agree with me?
Good Trading!
Raul Lopez
Forex Coaching