Two signals in one of the currencies that moves the most

Hey traders! How is everything?

You know every morning I scan the markets and look for the currencies that have:

  • Clear swings
  • Clear S&R levels
  • And a good profit potential

One of them is the EURCAD…

Here is my analysis…

EURCAD Long Term Analysis

The first thing that you should do is look at the daily or weekly chart and see if it is more likely to move up or down.

In this case, its clear that it is likely to continue its way down, see it for yourself:

EURCAD 1D

Which means that the EURCAD is trading in a very clear bearish condition and it is likely to continue is way down…

Therefore I’m going to be looking for short opportunities.

EURCAD Short Term Analysis

Now, the tricky part is, where to get in the market.

Let me show you what the short term charts look like:

EURCAD 30M

Focus on the yellow rectangle… what do you see?

If you said pressure you are right then… So there is a possibility to take a trade based on that pressure.

Or if you feel more comfortable taking breakout trades, you can set your entry order at:

Entry stop order: 1.4237
SL: 1.4288
TP: Open

Or, you can trade both of them… which is just what I’m doing.

Your turn

What do you think about the EURCAD? Are you going to trade it?

Are you going to take both signals or just one of them?

Leave a comment

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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 .

  • Chad Hogan

    Hi Raul, I like eurcad. I was going to trade it friday night but held off due to US unemployment news coming out. I decided to keep my trade on usdsek. Thanks for that 1 m8. I must keep an eye on that pair more often. I went short on nzdusd last week and were helped along with the news. Not sure on take profit yet. Thanks again Raul.
    Chad.

  • Say Pool

    Hi Raul,

    I am really admire with the 3 essential factors that you always emphasize; clear swing, clear S&R levels and good profit potential. It looks like we do have all those 3s in the next few weeks. After today’s NFP the market shows clear market condition with the greenback will continue its bullish movement. One of the currency pair which I’ll be focusing is GBPUSD. Now it has broken out from the strong major support and I think it will continue its way down until 1.46xx as the long term target. Could you give your analysis on this currency pair in the next few day? Other potential pairs are also welcome. I am really excited because there are so many pairs to trade beginning from next week.

    • Raul Lopez

      Yep, those three factors are essential to trade with the probabilities on our favor…

      And yes, I think we’ll have plenty of opportunities next week!

      Yep, the GBPUSD is definitely bearish!

  • mohamed

    hi raul, i saw the chart in weekly is going down since 13.09.2015 then it’s downtrend and is con tuned down way since when? but it need breather (retracement).
    thanks for help us

    nb: am not very good in English it’s my 5 languish excuse me for mistakes grammar

    • Raul Lopez

      Yep, the weekly what is also bearish… there is a lot of profit potential in this pair!

  • Manvinder singh

    What is your feel on AUD/JPY short term and long term.

    • Raul Lopez

      It is trading near an important level…

  • Manvinder singh

    thanks Raul

    • Raul Lopez

      No problem Manvinder!