If you are trading or plan to trade the EURUSD, you better read this

Written by Raul Lopez on . Posted in Trades & Analysis. 7 Comments

Time to Trade the EURUSD

Look, there is a time for everything in life…

  • A time to go to college
  • A time to get married
  • A time to have children

And a time to trade the EURUSD hehe

And I guarantee, that right now, it’s not the time to trade the EURUSD

Seriously…

I made the mistake a couple of weeks ago when I thought it was out of the range… but no, it wasn’t.

Right now with all the news about Cyprus and stuff, it makes it even more difficult to trade it.

Just take a look at the EURUSD hourly chart:

EURUSD Hourly Chart

Now, please tell me… What pattern(s) do you see here?

Because I see none, nein, ne, nej, nai, nee, nada…

This is why you shouldn’t focus just in one currency pair! Increase your trading arsenal. Hey, other currency pairs exist… Yes, the EURUSD is the most traded of them all, but there are others… have you ever heard of the AUDUSD? (I’m kidding…)

Here is the daily AUDUSD chart:

CHART 2AUDUSD Daily chart

Ahhh now this is clear one… We still got like 100 pips before we hit the next resistance level which is at 1.0575

So please… before taking any trade, please do a preliminary analysis and trade only the pairs that have a clear market condition.

You Turn

So let me ask you… are you trading the EURUSD? If you are, let me know what you think about it…

What other currency pairs are you trading right now?

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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 .
  • franz

    just trading with patterns? not so good!

    • Raul Lopez

      Hey Franz! Not just patterns, it’s way more than that… first I analyze the market condition, long term charts to see which ones have a good chance to move, clarity, etc. Then I focus only in the currency pairs that have a clear market condition and look for my entries on the short term charts…

      Then manage the trade, etc.

      • franz

        nice… what about long terms? did you look at weekly pivoit points?

  • Eviano

    To say EURUSD is not a reliable pair may not be totally correct but
    if say GBPUSD not reliable, I ll agree with you. However, Lopez position
    on EURUSD for now is the right thing to do. so I ll stay off EURUSD for
    now.

    • Raul Lopez

      You are right… we all have different perspectives…

      Right now though, I wouldn’t trade the EURUSD… there are other much clearer trade opportunities… What other pairs are you monitoring?

  • caswell Les

    EUR/USD and GBP/USD are not reliable pairs to put all your eggs in them you are right. because one moment i looks like it’s gonna break expectations the next moment you can’t stop stomping the ground for trusting whatever judgement you made to enter the trade on these pairs. other pairs are clearer yes, but if we are stereotyped to trade on certain pars we loose even a chance to make lots of profits on other profitable and more clearer pairs. And finally yes, EUR/USD should not be real account traders playground, Unless one has a well strategised plan or rather larger margin to trail stop losses.. great article :-)

    • Raul Lopez

      Hey Caswell, thanks for your thorough. I do agree with you, right now the EURUSD is not in a very clear market condition, I’ll rather risk my capital on other pairs… such as the AUDUSD. Cheers,

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