This is how I’m going to trade the EURUSD

euro

Hey traders!

Hope your weekend was nice and relaxing because the market are going get a little crazy this week…

There are a ton of important announcements this week, but the most important of them all is the FOMC rate statement…

Will they rise the interest rate?

Nobody knows for sure (but Yellen and her team)… Some analysts say the will, some others say they will wait until December…

I tell the students of my Forex Course that we need to be extremely smart about the way we trade this week. We need to make sure to trade only the currency pairs that have the clearest market conditions… we need to make sure, both, the short term chart and long term charts have clear S&R levels, we need to make sure they have a good profit potential, among other things…

Anyway… lets talk about the EURUSD

EURUSD long term analysis

Last week I talked about an opportunity to go short on the EURUSD and still think there is enough room to take more trades.

The EURUSD is clearly trading in a bearish condition, it was rejected from an important LT resistance level, therefore it is likely to continue its way down until it reaches its support level.

Here is the daily chart:

EURUSD 1D

So, if its trading in a bearish condition… what are you going to do???

Obviously… look for short opportunities.

EURUSD short term analysis

Right now, the EURUSD is trading around the previous high… let time show you the chart:

EURUSD 15M

There are two strategies to trade the EURUSD right now:

Retracement signal: if it forms a significant pattern with downward pressure, just where it is currently trading, we can go short from there.

Breakout strategy: If the EURUSD breaks through the lower support level, we can go short from the eventual breakout.

Entry: 1.0981
SL: 1.1017
TP: 1.0878

Your turn

What do you think about my strategy to trade the EURUSD?

What other instruments are you trading?

Dont hesitate to comment below should you have any question/feedback

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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 .

  • Donald Schnell

    Raul Lopez, you have the best price action course and information on the internet. You are the only instructor who teaches how to adapt to market conditions. I strongly recommend you to seasoned and novice traders who are looking for a major edge.

    • Raul Lopez

      Thanks!

  • Donald Schnell

    I’m looking to take profit around 1.0830.

    • Raul Lopez

      There you go Donald!!! Let see if our order gets triggered…

  • You always got the point which is necessary for Intraday and swing trader, I am surely looking to short here but I want a clear market condition with sell order at 1.0981 and see if there is 1:2 risk reward is there.

    regards,

    • Raul Lopez

      What do you mean by “I want a clear market condition with sell order”?