Is there still time/room to trade the EURUSD?

I’m afraid there isn’t my friend… At least for now.

Look, the idea is always to trade a currency pair is to trade it when there is enough room for the market to continue its way up or down.

But right now, the EURUSD is trading too close to its next LT level (which is at 1.2818).

Right now, the EURUSD is trading around 1.2886, so we have like 70 pips before the market hits that level…

Here is the long term chart:

EURUSD 1D

But you need to remember one thing…

Long term S&R levels are more like “zones” instead of plain levels…

So we might be pretty close to that level…

But you dont have to worry about it, sooner or later we’ll be able to trade the EURUSD again… for now, lets focus in other currency pairs with clearer conditions… such as the USDJPY…

USDJPY Long Term Analysis

The USDJPY just broke through an important LT resistance level triggering a bullish condition:

USDJPY 1D

The orange level that you see at the top is a weekly level, because you need to go back a few years to find the next level…

So in the USDJPY its clear that we have plenty of room to take our trade…

You see the difference between this and the EURUSD?

USDJPY Short Term Analysis

In the short term charts its also self evident that the USDJPY already broke through the SF Box, triggering a bullish condition…

USDJPY 1H

But I’d still like to see the confirmation of the 105.61 level before taking any trades.

Once we get that confirmation I’ll start looking for long opportunities.

Your Turn

What do you think about the EURUSD? And about the USDJPY?

Are you going to trade them? What do you think about my trading plan?

Share your thoughts

EURUSD, forex, USDJPY


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 .