Only a few trade opportunities, waiting for US data

Written by Raul Lopez on . Posted in Trades & Analysis. 2 Comments

The first Thursday of the month is always difficult to trade, because the next day the is the First Friday of the month! :) and you know the US unemployment report I due this day…

However, there about 5 currency pairs that I like today, the EURCHF is one of them:

It is trading in a very clear bearish condition and the next LT support level is at 1.2441, so we still have some room to get a good risk-reward ratio if we get a chance to short it.

Trade Safe!

Raul Lopez
Forex Training

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .
  • caesar

    i am a big fan of your blog but if i may ask ,how do you coose the pairs to trade?how many of your trades are ever on spot? thanks

    • Hello Caesar,

      Before we start trading, we analyze the 4H and D1 charts to determine which currency pairs to trade, which direction and possible entry levels, this is what we call the market condition. The market condition is defined based on how the market reacts to LT S&R levels.

      HTH

      Raul

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