Major Power

The market is getting clearer and clearer by the minute, yesterday I was unsure about many currency pairs, they were either trading at an important level in a not well defined range in the short term charts, or unsure about the long term levels.

But things are different now, most pairs cleared up their path and are in the clear market condition, heading directly to the next LT level.

Today a like the Majors:

EURUSD – Clear bearish market condition (shorts in play)
USDCHF – Bullish when trading above 0.9697 (longs in play)
GBPUSD –Bearish when trading below 1.5730 (shorts in pay)
USDJPY – Clear Bearish market condition (although I don’t think I’ll open a trade in this one because of a possible BOJ intervention).

That’s my plan for the majors!

Trade Safe!

Raul Lopez
Forex Training