Remember my trading plan for the EURUSD?

Euro Flag

Last Friday I wrote an article about my trading plan for the EURUSD…

Back then, it was trading at an important level, and I was waiting for the market to break the short term support level at 1.3204.

Well… guess what?

The market already broke through that level:

EURUSD Short term analysis

And that means that:

We are already in a bearish condition and we should look for short opportunities, and of course, ignore every long signal because the market it’s likely to continue its way down.

So if you are looking for a clear currency pair, take a look at the EURUSD.

But an analysis without knowing how far the market could go would be an incomplete analysis.

EURUSD Long Term Analysis

Here is my chart:

EURUSD Long Term Analysis

As you can see, it is trading in between two clear S&R levels, which makes me feel comfortable trading it.

The next LT support level is at 1.2818, so all take profit levels should be placed above 1.2818.

This is why I love to be a market follower, the market tells me when to trade, which way to trade and what currencies to trade.

Do you like it too?

Be careful though…

This week is full of important fundamental releases:

Tuesday:

AUD GDP

Wednesday:

CAD Interest rate announcement
JPY Monetary policy statement & BOJ press conference

Thursday:

EUR Interest rate & statement
GBP Interest rate & statement

Friday:

USD Non-farm payrolls report
CAD Unemployment report

Pretty busy doesn’t it? So please keep an eye on your trades.

Your turn

What do you think about my EURUSD analysis? Are you going to trade it?

What about the fundamental announcements? Are you going to trade the rest of the week?

Share your thoughts in the comment section.

Tags: , ,


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 .

  • Himanshu Dutta

    simplicity is the beauty that defines the clear picture ahead ! awesome plan Mr. Lopez !!

  • Chad Hogan

    Hey Raul, I’m with you on shorting the euro. I got in at 1.32205 and my TP is 1.31346. I entered on the breakout of inside bars on the 240 min chart. The news is going to be tricky though. I think your analysis is good but the bottom of the range is a long way off yet. You must have a lot of faith to be able to handle the replacements.

  • Waqas khan

    what about now?

    • Raul Lopez

      Hey Waqas, I’ve got no crystal ball… It’s impossible to know that…

  • Adrian Friday

    I was so glad to see the support levels break on the hourly chart. It’s all money in the bank till the next level! I appreciate the training and feedback Raul. #golden

    • Raul Lopez

      Hey Adrian, nice to see you commenting here! I know… Now it’s time to lock in some profits…

      Good luck!