Is it time to trade the EURUSD?

Euro Flag

The EURUSD is the most traded currency pair…

A lot of traders are attracted to this pair because of its spread, which is probably the currency pair with the tightest spread around…

The spread that some brokers use in the EURUSD its even less than a pip…

Let met tell you a little secret… I did the same thing when I started to trade…

But now with all these years of experience I know that it was a mistake, why would I trade the same currency pair, everyday regardless of its market condition…

I used to force my self to trade it because of its spread even when I had no idea of what the market was likely to do and oh boy, what a mistake it was…

Now I have a different approach, I trade the currency pairs that has the clearest market conditions… the ones that I feel comfortable with, the ones that have clear S&R levels and clear swings… Those are the ones that I focus each and every day…

And believe me, the results are self evident!

Ok, now to the initial question…

Is it time to trade the EURUSD?

Look, I like to see both, the short term charts and the long term charts in a clear market condition before I start looking for trade opportunities…

From the long term charts, its as clear as water…

Here is the Daily Chart:

EURUSD 1D

The EURUSD has clear LT S&R levels, so yes, I’d feel comfortable trading it and looking for short opportunities…

But wait… that’s not all!

In order to trade it and have a real opportunity, the short term charts need to be in line with the long term charts…

And unfortunately that’s not the case…

The short term charts are not as clear as I’d like to see them…

Look at them and you’ll see what I’m talking about! There are definitely other pairs that are trading in a clearer market condition!

So no, the time to trade the EURUSD has not come… We need to be more patient.

Your turn

Are you trading the EURUSD? What are your views about it?

What other currency pairs are you monitoring?

Share your thoughts.

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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 .

  • tp

    Hi Raul, I am short in EURNZD. I strongly recommend all to take this pair because it’s at a long term resistance level.

  • histomi

    just cool down, let the market breath pls…
    it react that way because of the news releases…

    • Raul Lopez

      Yep… plenty of fundamental announcements!!!

  • Waqas Khan

    the chfjpy didn’t work out. Chfjpy is going up again

    • Raul Lopez

      It’s going down Waqas… but we cant expect the market to go down (or up) in a straight line… Patience my friend…

      • ram

        thanks raul chf/jpy is working right now

        • Raul Lopez

          I’m glad it is… did you close your trade already? Or are you going to hold it over the weekend?

    • ram

      chj/jpy is working right now… thanks to raul