I’m currently looking for signals in these currency pairs

Hey traders, hope everything is great with your trading, life, etc…

Yesterday was a very complicated day for me, and this time not because of the market, but because I was very very very tired…

I ran a marathon (42 kms or 26.2 miles) on sunday. And oh boy, what an experience.

When I was at the 35th km, I was thinking to myself, why am I doing this? At this point in the race, every step is painful, its cold outside, etc.

But when I crossed the line, everything made sense, the satisfaction you feel at that moment is like nothing else, it would be like winning the most difficult trade ever…

I’ll show you a picture of me crossing the line on my next article…

Anyway, lets get to the market…

Forex Analysis

As you already know, every good trade starts with good analysis. It doesn’t matter what system you use, what timeframes you trade, the tools you use, etc.

You need to make sure you are trading the right currency pairs in the right direction, and for that reason, you need to do your analysis before starting to look for your entries.

I’ve done mine, and these are the currency pairs that I’m closely watching because of their clarity.

GBPJPY Analysis

If you want to make a ton of pips you better watch this one. The GBPJPY is probably the one with the greatest profit potential.

What do I mean by this?

Let me show you the chart first:

GBPJPY Analysis

It is currently trading in a very clear bullish condition and in order to find the next LT resistance level you need to look for the weekly chart, which is at 179.74. The GBPJPY is currently trading at 169.03 so go figure, it is more than 1000 pips away from where it is currently trading at.

For that reason, I’m looking for long opportunities in the GBPJPY in the short term charts.

CHFJPY Analysis

3 weeks ago I did analyze the CHFJPY and told you that if it manages to break the ST resistance level it will trigger a bullish condition. Long story short, it managed to break that resistance level and it has been going up since then…

I have a long trade here, and I’m still looking to add to this position.

Here is the LT chart:

CHFJPY Analysis

Some of you might ask: aren’t you afraid of a retracement?

I know it will retrace at some point, but that retracement could happen 1000 pips higher, so as long as the CHFJPY keeps moving up, I’m going to keep looking for long opportunities.

CADCHF Analysis

I’m also looking for short opportunities in the CADCHF.

If you analyze the LT charts, you’ll see that it clearly broke through an important support level and now it is likely to continue its way down until it hits the next LT support at 0.7856

CADCHF Analysis

This one is precisely the type of currency pairs that I like to trade, the ones that are as clear as water.

It is currently trading at 0.8358 and its next LT support level is at 0.7856, se we’ve got plenty of room to take our trades.

Other pairs I’m currently trading are: AUDCHF (short), GBPUSD (long), GBPCAD (long), AUDNZD (short), and others…

Your turn

What do you think about the currency pairs that I’m currently trading?

What other pairs are you currently trading?

Please comment.

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 .

  • ram

    trade only left side pairs because forex trading is nothing but this :

    because right side pairs move same as the left side pairs. actually no one trade right side pairs. they simply move with EBS(electronic broking system and rueters dealing 3000) except gold and silver

    eur/usd : usd/chf, cad/chf, eur/cad

    gbp/usd : gbp/cad

    aud/usd : aud/cad, aud/nzd, aud/jpy

    nzd/usd : nzd/cad, nzd/jpy

    usd/jpy : cad/jpy

    eur/jpy : chf/jpy

    gbp/jpy :—–

    eur/aud : eur/nzd, aud/chf, nzd/chf

    gbp/aud : gbp/nzd

    gbp/chf : eur/gbp

    ——— : usd/cad ( 100 % false signals )

    ——— : eur/chf ( 100 % waste pair in fx market. there is reason )

    ——— : gold & silver ( no need to risk . because 10 usd price movement in gold you will loss entire margin with 100 : 1 leverage as compared to fx pair . 20 pips in silver is as a gold . silver >>>>>>>>gold (in volatility)

    ——– : dowjones, s&p 500, nasdaq 100 ( these all move in the same direction(up side maximum) it`s your wish. only follow dowjones(my suggestion). but i dont watch and trade.

    —- : again below 5 pairs are related with top 5 pairs.

    my suggesstion is top 5 pairs are vvvv imp in the fx history and below 5 pairs are next option its your wish.

    so total only 5 pairs to trade(with confident)

    total only 10 pairs to watch and trade with forex market

  • Waqas Khan

    very good. thanks Mr raul

  • Craig Hantke

    CHFJPY would look like its at its highest? How do you know where it will go? (take profit)

    • Raul Lopez

      Hey Craig, I dont know… no one knows… When it trades either at historical highs/low I keep trailing my SL based on the short term ranges…

      HTH

      • Craig Hantke

        The only other time CADCHF went that low is in 93′. It’s not very close. Having said that, EURCAD does look interesting and they are slightly on the reverse.

  • pduarte

    Hello Raul,

    Congratulations for your achievement.

    Yen, once again you’re right.
    And what you think about de AUDNZD; AUDCHF and EURJPY?

    Do you think these onzes are good also?

    Cheer’s

    Paulo

    • Raul Lopez

      Hey Paulo, yeah, most yen crosses are tradable…

      AUDNZD is definitely bearish, and it is currently trading at a ST resistance level, so we might get a signal there…

      AUDCHF also bearish, looking for short opportunities.

      EURJPY trading at an important level, we need to be patient here and wait for the short term range.

      What do you think?

      Cheers

      • pduarte

        Hello Raul,

        Yep, you’re right, and I think that rigth now we have the bottom of the range at 140,95. Now let’s see what appens.
        Today I have opened tow trades, one is the AUDCHF short at 0.8070, andanother one in the EURCAD long at 14590. have we tow winners here? what do you think.

        Cheer’s

        Paulo