Dont trade the EURUSD, you’ll thank me

euro

Look traders, there are times for everything in life…

Today (or for the next few days) its not the time to trade the EURUSD.

How do I know this?

I always try to find the currency pairs that have the cleared swings and the clearest levels, and I focus on them…

When you have clear S&R level and clear swings you know exactly what the market is likely to do, and that helps you find good trade opportunities.

And the main idea about trading is to trade when the odds are in your favor… if you always trade like this, sooner or later you’ll be ahead of the game… The probabilities will do their job!

So, when ever you trade, just make sure you are trading the right currency pairs!

Back to the EURUSD…

Right now, the EURUSD doesn’t have clear levels or clear swings, neither one… What happens when you trade stuff like that? Sooner or later the market moves against you…

Now, don’t get me wrong, if you trade it, you could win your trades, but the fact that it doesn’t have clear levels or clear swings, it makes it very difficult to determine what it is likely to do…

So what would you do… risk your capital in a currency pairs where you have absolutely no idea of what it is likely to or risk it in a currency pair where you’ve got clear S&R levels and clear swings (therefore you know what it is likely to happen)?

So please, dont trade the EURUSD… look for other opportunities. There are plenty of other currency pairs that are trading in a clearer condition, even XAUUSD…

Just to name a few:

XAUUSD – Bullish
EURAUD – Bullish
NZDJPY – Bearish
AUDJPY Bearish

And on all four of them, we still got plenty of room before we hit the next LT level, so there is time to plan your trade.

Your Turn

Are you currently trading the EURUSD? Long or short? What do you think about my views on the EURUSD?

What other currency pairs are you trading?

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 .

  • pduarte

    Hello Raul,

    Just to say that I think it’s time to wait.
    zzzzzzzzzzzzzzzzzzzzz………..

    • Raul Lopez

      Hahahah you are right Paulo! It’s time to stay on the sidelines!

      cheers,

  • ashwin kumar

    hello lopez…..your analysis was good….but what ever the trade setup`s you are posting on free analysis….you are viewing long term analysis on ( daily candles ) by the time you wake up in mexico in morning time..that time the market was in a bearish condition…but at finally it was rejecting and closing back where they opened…..it would be some what better if you place a trade set up after closing the long term daily candle….because the recent set up in free analysis gbp/cad the long term analysis chart you placed was in in a bearish condition but at finally it was rejected… and nzd/jpy and aud /jpy also rejected….

    • Raul Lopez

      Hello My Friend, thank you for your input!

      The trade in the GBPCAD wasnt triggered though! That’s the reason I use pending orders!

      Generally, the market condition is not just for a few hours (although it can last only for a few hours)… For that reason we use filters, like the one above… I’m glad it didnt get triggered though…

      Good luck!

  • cassyd

    thank you Raul, that saves us a lot

    • Raul Lopez

      I’m glad my articles have been useful!

      Have a great weekend!

  • Sim

    What is your thought on USD/jpy ?

    • Raul Lopez

      It’s in a bearish condition but too close to its important level, so I’d suggest you to wait a little longer…

      Good luck!

  • Muhammad Ali Awan

    Hi Raul, Thank you very much, you really help the new traders like me. Thanks once again.

    • Raul Lopez

      I’m glad my articles are useful Muhammad!

  • Ilya

    I agree with the idea of not to trade EURUSD now. It is not only about clear S&R levels (which is of course vital), but also the economic situation of the two economies. Both Eurozone and the US are not doing very well (look at the Dow Jones companies of yesterday).

    • Raul Lopez

      Yep, you are absolutely right IIya… Thanks

  • Dave

    Thanks! I need to get my hands on good charts to use. What are you using?, or can you recommend any that I can download?

    • Raul Lopez

      I use MT4, most brokers offer it as their charting platform… Have you tried it?

      • Dave

        I have not used it. I am on etoro, they don’t use. I’ve downloaded it though, thanks.

        • Raul Lopez

          No problem… its pretty simple to use… you’ll feel comfortable with it!

          Let me know if I can help you with anything else!

  • Dave

    Thanks so much for your advice. I had a buy on eur/usd this morning… closed it with 6.5% gain. Now, I wait until next week for that pair. I’ve had nothing but gains since downloading your ebook!

    • Raul Lopez

      Wow!!! Congrats for that trade Dave!!!

      Yep, I think we should leave the EURUSD alone for now…

      Good luck!

  • I gave up on the EUR yesterday when the @)%&** stopped me out – again!! I also saw that Credit Agricole put out that they went long last Friday at 1.2660 with a target of 1.31. Phew! Is that a risk or do they know something we don’t? :)
    Thanks, Raul. Good advice as always.

    • Raul Lopez

      Lets just wait Andy, and let the market tell us when to trade the EURUSD, which right now it isnt…

      We’ll see what happens!

      Good luck!

      • I will wait and see, Raul. Maybe give it a rest this week. Bit choppy for me. :)

        • Raul Lopez

          Could be… or focus in other currency pairs, with clearer market conditions???

          Good luck!

          • pduarte

            Hello All,

            I think I know where that number came from, If we put a Fib. between the 1,3987 and the 1,2512 on the weekly chart, we get that level on the 38,2 Fib plus a retracemment of that level on the 6th of september.
            But I dont trade FIb or any other indicators because they put to much noise on trading. So I am looking for other opportunities.

          • Raul Lopez

            Yep I agree Paulo, I dont use Fibo’s either… so we’ll see what happens!

            Have a great week Paulo!

    • forexft

      Hi Andy, I don’t know how Credit Agricole came up with the number 1.31 as a target, whether it is technically based or fundamentally or both… I assume they consider this market totally oversold and many institutions might be seeing this market as cheap.

      • That 1.31 baffled me completely. Not sure where that came from.

      • Raul Lopez

        I know, I wonder how they got to that number!!!

        Only time will tell

    • Raul Lopez

      Hello Andy,

      Yeap, I think is better to stay away from the EURUSD for the time being… But you know something, there are plenty of other pairs or instruments that are trading in a very clear market condition… XAUUSD for instance…

      Its difficult to tell how they got to that number… maybe they do know something we dont… But dont worry about it, we’ll follow the EURUSD once it start to move smoother…

      Good luck! and dont worry about being stopped out… you’ll get more opportunities…

  • Johanna

    What do you this about AUDUSD Raul?

    • Raul Lopez

      What do you mean? ahhhh What do I think about the AUDUSD…

      I wouldn’t trade it for now, I dont like the way the short term range has been developing… No clear levels, no clear swings, etc.

      I’d rather risk my capital on other pairs…

  • Johanna

    I saw it Raul. It looked promising and suddenly changed direction. I’m going long on AUDJPY.

    • Raul Lopez

      Good luck!

    • Johanna

      I meant what do you think?

      • Raul Lopez

        Yep, I thought so… I already answered…

        Cheers,

  • Waqas Khan

    thank u so much for your advice.

    • Raul Lopez

      No problem Waqas, I’m glad it has been useful!