The best trade opportunities for the rest of the week

candlesticks

Hey traders, how is your trading going so far this week?

I’ve got to admit that the market has been difficult to trade in the last couple of weeks… mostly because most of the currency pairs have been trading in a very tight range.

And not in a well defined range (those that are easy to trade) but in a range without clear S&R level, no clear swings, etc.

That’s the reason I’ve been very cautious about the market, and havent placed too many trades in the last few weeks.

Plus, the out-of-date NFP report released yesterday, the “invisible” announcement that hit the market a few hours ago (did you know what happened there by the way?)…

Ufff…

It’s funny though… because some of the currency pairs that I wasnt watching at the beginning of the week are the ones where I’m currently looking for trade opportunities…

That’s just how the market woroks sometimes…

So what about you? What are your thoughts about the market in the last few weeks?

Anyway… here are a few of the currency pairs that I’m currently watching:

NZDUSD Analysis

Based on the long term charts, it’s clear that the NZDUSD has a bearish market condition at it is likely to continue its way down until it reaches the next LT support level at 0.8100

Here is the long term chart:

NZDUSD Long Term

And if you take a look at the short term chart, you can confirm that it is trading in a bearish condition:

NZDUSD short term

So as long as the NZDUSD trades below 0.8439 I’ll be looking for short opportunities.

EURUSD Analysis

Yesterday’s news announcement helped the EURUSD broke through the consolidation period and now it is likely to continue its way up until it reaches the next LT resistance level which is at 1.4032

Here is the LT chart:

EURUSD Long term

Right now I’m waiting for clearer levels in the short term charts so that I can get a good entry.

AUDCHF Analysis

This is probably the clearest of them all… And as you already know, trading is all about finding the right currency pair to trade…

Look at the LT chart:

AUDCHF Long term

It’s clear that the AUDCHF got rejected from the top of the range, and since the market moves in swings, it is now likely to continue its way down until it hits the nt LT support level at 0.8250

And here is the ST chart:

AUDCHF short term

It couldnt be clearer than that… Broke through the short term range and as long as it keeps trading below 0.8653 I’m going to keep looking for short opportunities.

Your Turn

Again, what do you think about the market in the last couple of weeks?

What do you think about my analysis?

What other pairs are you watching?

Please share your thoughts 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 .

  • Chad Hogan

    Hi Raul, I’ve checked out GBPCHF and am waiting for confirming price action to go short. What do you think about EURUSD now.? Im in the trade but it’s consolidating now and with more news tonight? I’m not so sure..

    • Raul Lopez

      Hey Chad, still in that trade? Maybe close it because of the weekend?

  • pduarte

    Hello Raul,

    How are you?
    Hope to find you Ok.

    What do you think about the GBPCAD is it still going up?
    And the CADCHF going down?

    Cheers,

    Paulo

    • Raul Lopez

      Hey Paulo, I’m doing great thx… yourself?

      GBPCAD is very bullish and still got plenty of room before it gets to the next level…

      About the CADCHF I’m not so sure… It’s definitely going down, it’s just that I’m not sure about the levels…

      What do you think?

  • Chad Hogan

    Hello Raul,
    Yes I agree they are the best pairs to trade at the moment for clear market direction. What Im starting to look for is the most pips on offer between daily levels and these 3 have plenty of room to move. Thanks mate..

    • Raul Lopez

      Hey Chad, have you seen GBPCHF? Take a look at it…

  • Said

    i’m long on nzdusd with tp at: 0.8628 ( i expect about 200 pips)

    • Raul Lopez

      Did you edit your post:

      “Said said:

      i’m long on nzdusd with tp at: 0.8628 ( i expect about 200 pips)”

      Are you still long?

      Cmon Said…..

  • Waqas khan

    hmm very nice

    • Raul Lopez

      Thanks Waqas!