The best currency pairs to trade right now (including entry orders)

Trade Entry

Hey traders, how is your trading week going so far?

Here is what I think are the best trade opportunities for today.

Remember, its always about choosing the right currency pairs to trade, get this right and you’ll have 80% of the job done.

So how do you know you are trading the right currency pairs?

  • You have clear support and resistance level on both, the long and the short term charts
  • You have clear swings

With that information, you’ll understand what the market is doing, you will know what it is likely to do and you can create a trading plan to take advantage of it.

So here we go:

AUDJPY – It is trading in a very clear bullish condition, we still have plenty of room before the market hits the next long term level. I took a trade here at 95.33 and I’m still holding it. I’ll try to add to this trade because the next LT resistance level is pretty far.

EURGBP – It got rejected from an important LT support level, so it is likely to continue its way up until it reaches its next resistance level which is at 0.73800. I also have a trade here, I opened it at 0.7211. In this case, the risk reward ratio is around 2:1, so we don’t have much room to increase our position.

CADJPY – This is another one that I like, I have an entry order ready on this trade:

Buy stop entry: 100.22
SL: 99.82
TP: Open

I have my TP open because the next LT level is at more than 700 pips away from where the market is currently trading, so we’ll have plenty of room to set it.

GBPCAD – I have another entry order here:

Buy stop entry: 1.9199
SL: 1.9160
TP: 1.9294

This one is also around 2:1. And I will also take a trade here if I see upward pressure around the bottom of the ST range (1.8997).

These are 4 of the 9 currency pairs that I’m currently trading/monitoring.

Your Turn

What do you think about these currency pairs? Are you trading them?

What other currency pairs/instruments 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 .

  • Eviano

    Good one. what about EURJPY. I think it is in a bullish condition

  • lemon fox

    Raul
    thanks for sharing. How do you ‘scan’ for pairs showing your desired entry criteria? Manually?
    Best
    Paul

  • Shagufta

    I have not taken any trade as yet….I am still trying to analyse the market conditions. In CAD/JPY I have LT support level at 98.32 and LT resistance level at 106.54. Have I marked these levels ok? And I presume that because its around 620 pips from entry level you have left it open?

  • Shagufta

    Hi,
    It looks like Eur/GBP tried to create a downward pressure but it didnt work. The market looks tired at the moment but it is likely to move upwards and reach the resistance level as its already been rejected from the LT support level

  • Chukwuzuluoke Ikuku

    OK

  • Chukwuzuluoke Ikuku

    I was trading usdcad believing that it will continue it way up due strong dollar index little did I known dat dollar have been over stretched there by rustling to bearish and hit my SL ..so sad today…

    • Raul Lopez

      Yep, USDCAD retraced back a little bit… I still think it could continue its way up though, we just need to wait a little longer…

      Good luck!