Here is how to trade the EURUSD (and others) right now

euro

Hey trader, hope everything is going well!!!

How is your trading going so far this week?

By the way, did you take the GBPAUD signal that I sent you on Tuesday?

I’ve been following the GBPAUD in the last weeks and in my last article, I published a signal:

Stop entry: 1.9692, SL 1.9635 and TP 2.0190

Did you take it?

If you did, you have almost 300 pips on your favor, you need to hold it a bit longer so it reaches our TP order, which is around 200 pips from where the market is currently trading at.

200 pips might seem like a lot, but its not the case in the GBPAUD, it could move a few hundred pips in just a few hours, so you got to be patient ok?

So if you did take it! Congratulations!

Ok, now to todays analysis!

EURUSD Analysis

You know whats been happening with the EURUSD, its been falling like a rock in the last few months, and if its been falling, it is likely to continue to fall, until it reaches its next LT level…

So let me show you the weekly chart:

EURUSD 1W

Its clear that the EURUSD is likely to continue its way down, it broke through an important support level and now it is likely to reach its next support level which is at 1.0768.

It is currently trading at 1.1355, so we’ve got plenty of room.

Now, let me show you the short term charts:

EURUSD 1H

We have many possibilities here.

  • If the EURUSD retraces back to the short term resistance level (1.1500), we could take a retracement signal off that level.
  • (I wouldn’t take this, but is another possibility) The breakout of the ST support level 1.1275
  • Breakout of the previous low 1.1100
  • Those are the three possibilities that we have to trade the EURUSD.

    CADJPY Signal and Analysis

    Another currency pair that I’m closely monitoring is the CADJPY, by looking at its daily chart, you’ll see that it is one of the clearest currency pairs to trade right now:

    CADJPY 1D

    The CADJPY has been rejected from the LT support level, which makes me think that it is likely to continue its way up at least until it reaches its next LT resistance level at 99.00.

    So I know that I’m going to be looking for long opportunities in the CADJPY.

    Now, here is the ST chart:

    CADJPY 1H

    Right now, it is trading in a very well defined range, so I’d definitely look for long opportunities in the CADJPY.

    This is the signal (and scenario I’d favor) that I’m going to take:

    Entry buy stop: 95.91
    Stop loss: 95.31
    Take profit: 98.74

    We’ll see what happens with this signal!

    Your Turn

    Did you take the signal in the GBPAUD? Please share the reasons why you took or why you didn’t…

    What about the EURUSD, are you currently trading it? Do you agree with my analysis?

    Are you going to take the signal in the CADJPY?

    Share your thoughts!

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 .

  • Jambanja paSalisbury

    Raul, it’s been long time since I posted or followed the discussions! Was on the move. Once I fund my account, I will try out your techniques! Got fingers burnt some three months back…..’…a burnt child dreads fire!…’

    • Raul Lopez

      Hello Jambanja,

      Good luck! And dont hesitate to comment if you have any questions!

      • hira

        hey raul may I see this break out box of yours

        • Raul Lopez

          What do you mean?

  • Karne

    Thanks for all your insights and your trading method. I am your follower now. Thanks again

    • Raul Lopez

      No problem Karne, dont hesitate to comment anytime you have any question alright?

  • richard

    thanks Raul . For great analysis as usual. Did not take GBPAUD trade. Account wiped on a EURUSD trade when it was tracking sideways a few weeks back. Thats life. Am watching from sidelines and learning more. New web site is great. thanks for your time you put into teaching.
    kind regards

    • Raul Lopez

      Hello Richard,

      Sometimes I get the feeling that we need to go through that experience to become better traders… But let me tell you something, now you know what you dont need to do… Take it as a learning experience and next time you’ll do better!

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

  • hira

    thanks man nice articles by the way and they do work from since I read them along with the pa techniques and the fib works a treat … get the bounce use the fib get the retrace look for signal at any level preferred 61.8 on the 1 hour charts and bang easy pips thanks for your guide helped a lot the simple things work effectively …

    • Raul Lopez

      I’m glad its been working for you Hira… I dont use Fibs though!

      Have a great weekend!

      • hira

        I only use the 50 fib if trigger don’t occur at the fifty then I wont trade it … in sayin this this can be variable depending on market trend strength if its strong you may consider to use the 32.8 so if it trends are strong I sometimes will put the 32 up not very often thou …

        • Raul Lopez

          Alright, looks like you already have a well developed plan!

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

          • hira

            do you have any money management plans or a checklist that you tick off to take the trade ect … that I can get a hold of … always time to give mine a tweak …

          • Raul Lopez

            Yep, I do… I’ll write an article about that next week!

            Good luck!

      • hira

        what do you think about a trigger here raul knowing that the hand is being dealt I see potential for this to move to the weekly target you posted up

        • hira

          im looking for a 1 hour 4 hour or daily trigger to take this short …

          • Raul Lopez

            Hello Hira,

            Its too close now to the next LT level, I’d focus on other currency pairs for now… We need to wait and see how it behaves around that level Hira!

          • hira

            to me the market has played what it wants to do so im considering to sell on strength along with the trend with trigger to go short I wont hesitate now …

          • Raul Lopez

            Alright… good luck Hira!

            Please keep me posted!

  • Eric Aroh

    Hi Raul, I did take the trade (as a breakout) and I took a lot of pips – I am still in the trade. I am also watching CADJPY, and looking for LONG opportunities. Thanks

    • Raul Lopez

      Excellent Eric, I’m glad you took advantage of this trade!

      The CADJPY its been ranging in the short term charts, I guess we are going to have to wait until next week for our order to get triggered!

      We’ll see what happens!

      Have a great weekend Eric!

  • Ben Horsfall

    Hi Raul, Fantastic analysis on the GBP/AUD. I have been waiting for this pair to breakout of its upwards sloping range for a while. Placement of the stop loss behind the upper resistance line on the ST chart was exactly what I had in mind, though I did have my entry a little higher than you just as a further point of confluence for the strength of the bulls, I am still looking at a 7:1 reward/risk ratio.

    • Raul Lopez

      Great Ben!!! Are you still holding your trade?

      Have a great weekend!

      • Ben Horsfall

        Yes still in, pegging 2.02.

        • Raul Lopez

          Still holding it?

  • Abaid

    CAD has good growth Employment change data in other side
    IVEY PMI
    280% negative data JPY has weak fundamentals and technical analysis predicting on daily chart it will be in buy if it will break of last five days high resistance level….am i right?

    • Raul Lopez

      As I said Abaid, my analysis is based only on technical aspects, not fundamentals…

      There is one theory about technical analysis: all available information is represented in the chart at all moments… So all those fundamentals are already discounted…

      Good luck!

      • Abaid

        ok Raul Good

      • hira

        candlestick is the fundamentals hehehehe we don’t have to go through all the fundamental garbage only times when high news are realeased to work around our positions …

        • Raul Lopez

          That’s correct Hira… just the most important ones are the ones that have a better chance to impact the market!

  • Waqas Khan

    nice and easy. thank u raul

    • Raul Lopez

      Hey Waqas, nice to see you around!

  • Abaid

    Hi Raul EURO has weak fundamental But USD also have Negative quantitative data it is going sideways If USD grow GDP then EUR/USD will be in selling trend again…am I right?

    • Raul Lopez

      Hello Abaid,

      I dont pay to much attention to fundamentals, sometimes the market moves against the fundamentals… I trade what I see on my charts! That’s it!

      • hira

        I like your style raul trade what you see not what you think …

        • Raul Lopez

          That’s the main goal… trade what you see, look for those currency pairs with clear market condition and focus in them!

          Good luck Hira!

  • RuwiniW

    Thanks. I opened EUR/USD sell order @ 1.1380.
    And do you have any idea of ending EUR/USD bearish trend?

    • Raul Lopez

      Hello Ruwini, well, as I mention on the post, the bearish condition is likely to last at least until the EURUSD reaches the next LT support level…

      That’s what I’m aiming for…

      • RuwiniW

        Thanks again

        • RuwiniW

          Already I have 150+ pips. Is this time to close?

          • Raul Lopez

            Hey Runwini,

            I’d hold it! But again, that’s me, I focus on the major swings… I guess that depends on how you trade the market!

            Good luck!

          • RuwiniW

            Thank You.
            Now it has 200+ pips. I set take profit at 1.1100.

          • Raul Lopez

            Well done Ruwini!!! I’d move your TP move just a bit… just to make sure it gets triggered.

          • RuwiniW

            Great help. Really happy and thank you very much. I will do that.

          • Raul Lopez

            No problem Ruwini, I’m glad its being useful…

          • RuwiniW

            Profit taken, 250+, highest ever by me. Very happy trading with you. Looking for your next trade AUD/JPY.

          • Raul Lopez

            Congratulations Ruwini! Great trade!

      • RuwiniW

        Already I have 150+ pips. Is this time to close?.