A few things to watch for in the next few days

How is your trading so far?

Have you noticed that the market has been a little slower than usual?

At least the majors have been trading in a very tight range (well… most of them at least).

Do you agree with me?

So here are a few things you need to take in consideration for the rest of the week.

Plenty of important fundamental announcements

This week we got a few of the most important fundamental announcements:

On Wednesday we got:

The GDP from CAD and USD
FOMC Statement (very important)

On Thursday:

GBP interest rate and statement
EUR interest rate and statement
USD ISM

And on Friday:

USD Non-farm payrolls report and unemployment rate

So what do you think? Are you going to trade during these announcements?

Currency Pairs to Watch

Did you notice I talked about the majors in my initial paragraph? That’s because they are in fact trading in a very short term range…

But that’s not the case for some of the crosses, like these two:

AUDNZD Analysis

This one os probably the currency pair that I like the most. Here is my long term chart:

AUDNZD Analysis

Pretty clear isnt it?

So for the AUDNZD, I’m going to be looking for short opportunities until it hits the next LT support level which is at: 1.0899

It is currently trading at 1.1347, so we got plenty of room.

EURAUD Analysis

Another cross that I think is trading in a very clear market condition is the EURAUD… It broke through the short term resistance level this morning, triggering a bullish market condition:

EURAUD Analysis

And you know what that means… That means that I’m going to be looking for long opportunities.

The next LT resistance level is at 1.5000, so we got more than 380 pips before we hit that level. Enough for you?

Your turn

Let me know what you think about my analysis… and what I think about the majors.

Are you going to trade during the news announcements?

Let me know in the comment section.

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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 .

  • Craig Hantke

    what do you think on audnzd Raul? new short term SL around 1.135?

    • Raul Lopez

      Hey Craig,

      Sorry for the late response… I have not changed my view about the AUDNZD since my last analysis… it’s still bearish. I think it will reach the next LT support level around 1.0900

      did you trade it?

  • Tunde

    thanks for the response

  • riyaz shaikh

    Mr lopez
    pls tell the time frame which is best for trading intra day above displayed charts are weekly and hourly

    • Raul Lopez

      15M perhaps?

    • riyaz shaikh

      thanks sir

  • riyaz shaikh

    Hello Mr lopez
    I want to know whether its advisable to carry open position prior to any big event

    • Raul Lopez

      If I have enough room to move my SL to the BE level and still give the market some room to breathe I hold them…. otherwise I just close them.

  • Tunde

    Okay Raul, My question is; do you close your opened trades before the news or you just stay at break even?

    • Raul Lopez

      Sometimes Tunde… it depends on how close the market is from my entry level… If in profits and enough room to move my SL to the BE level… I’ll hold them. Otherwise I just close them.

  • Tunde

    Very true Raul, i got into the audnzd at 1.14255, i also spotted a nice set up on AUD/CHF, i dont know if you, ll agree with me. Also, since i’m not a pro yet, i will not trade for the rest of the week. Hopefully by next week, the market would have prepared beautiful set ups for us…lol

    • Raul Lopez

      Not to trade during the rest of the week is a wise decision…

  • Himanshu Dutta

    great I agree with you completely mr. lopez !

    • Raul Lopez

      I’m glad you agree with me Himanshu…

      • Himanshu Dutta

        pleasure is all mine Mr. Lopez, being connected with you and having your words on market !! god bless !