Tag: EURAUD analysis

I just longed the EURAUD… What do you think?

If you are monitoring the EURAUD I’ll appreciate your input… I have it in a very clear bullish market condition on the long term charts.

My next LT resistance level is at 1.3030, and my take profit order is at 1.2994.

This is the signal that triggered my trade:

Entry was on 1.2804 and my SL at 1.2761

Is this pair something you’d consider a good opportunity? Please share your thoughts

Trade Safe!

Raul Lopez
Forex Coaching

EURAUD analysis, forex

Trading scenarios for the EURAUD

Last week I wrote about the EURAUD and its bullish condition, and today, I still think it has plenty of upward potential, so I’m still looking for long opportunities.

Here are my trading scenarios for the EURAUD:

As long as the EURAUD trades above 1.2626 I’ll be looking for long opportunities.

What do you think?

Trade Safe!

Raul Lopez
Forex Coaching

EURAUD analysis, forex

Are you trading any of the EUR crosses?

Did you notice most EUR crosses are trading in a bullish condition? I like the way most of them are trading, I even have an open trade on the EURJPY (long).

Take a look for instance at the EURAUD, it’s clear that it wants to go up:

I’m looking also for long opportunities here, I think it is extremely bullish. What do you think?

Its ironic though, while most EUR are in a clear market condition, I find the EURUSD in a very difficult market condition, I wouldn’t place a trade there. Would you?

Let me know.

Trade Safe!

Raul Lopez
Forex Coaching

EURAUD analysis, forex

Have you been looking for short opportunities on the EURAUD?

I have, and honestly I still think there it will continue its way down. It’s been trading in a bearish condition and making historical lows for a while now. And you know what, if the market is going down, I’ll keep looking for short opportunities (I stopped trying to pick bottoms a long time ago):

So as long as the EURAUD keeps trading below 1.2451 I’ll be looking for short opportunities.

Do you agree with me?

Good Trading!

Raul Lopez
Forex Coaching

EURAUD analysis, forex

EURAUD still trading around historical lows

Do you go with the flow? Or would you rather try to profit from an eventual pullback?

Sometimes it’s difficult to trade when a currency pair is trading at historical lows/highs, why? Because we all think that sooner or later the market will retrace back and it could have us stopped out if we go with the flow. What do you do under these circumstances?

This is the case of the EURAUD, it has been reaching historical lows for a month now (almost daily). Here is the weekly chart:

If you asked me the same question I asked you at the beginning of the post, I would go with the flow: keep looking for trade opportunities in the direction of the trend. Yes, the market will have a pullback, but we don’t know when, it could be tomorrow or it could be next month.

In the EURAUD case, I’ll keep looking for short opportunities without a doubt. Since we don’t have further support levels I’ll use a 3:1 risk reward ratio as my take profit order.

Trade safe and have a great week ahead!

Raul Lopez
Forex Training

EURAUD analysis, forex

EURAUD – Shorts are OK

What do you think about the market this morning? I don’t see many opportunities, most currency pairs are trading at an important level, or they are just trading between random levels making it difficult to trade. Do you agree with me?

One of the very few exceptions is the EURAUD, it is clear that it’s trading in a bearish condition and I’m going to be looking for short opportunities here.

I’d like to see a retracement to the ST resistance level:

If I see significant downward pressure around the resistance level, I’ll definitely look for short opportunities.

The next LT resistance level is around 1.2990

Trade Safe!

Raul Lopez
Forex Course

EURAUD analysis, forex

EURAUD short term charts update

Last week I had a trade open on the EURAUD but had to close it because it didn’t break the bottom of the range. Yesterday it broke the bottom of the range so I’m getting ready to give this cross another shot. This is what I’m waiting for:

If it retraces back to the ST resistance level around LOPS2 and forms a significant pattern with downward pressure I’ll go short.

I’ll let you know what happens.

Trade Safe!

Raul Lopez
Forex Course

EURAUD analysis, forex

EURAUD Trade update

As you already know, I have an open trade on the EURAUD, I’m short since last Tuesday from 1.3485. It is currently trading at 1.3395 (90 pips on my favor) and I’m just planning what I’m going to do with this trade. Here is the chart:

I’ll have to take a decision whether or not leave my trade open over the weekend, and here is my plan:

  • If the EURAUD breaks the bottom of the range (1.3367), I’ll keep my trade open and move my stop loss level to the middle of the range.
  • If it doesn’t break the bottom of the range, I’ll close it and therefore will have a nice and relaxing weekend :)

So, both scenarios are good! Hope all trades were like this one…

Have a great weekend! And see you next Monday!

Trade Safe!

Raul Lopez
Forex Training

EURAUD analysis, forex

I’m trading the long term charts on the EURAUD

Yesterday I took a trade on the EURAUD based on the daily charts, I like the way its trading because both, the bottom of the range and the top of the range are very clear, and it recently got rejected from an important resistance level, which means that it is likely to continue its way down until it reaches the next LT support level:

My plan is to hold this trade until it reaches the next LT support level (lower blue line). What is interesting about this trade is that I’m risking 1% of my account, but if the market hits my TP order, I’ll make 7.1%, sounds good doesn’t it?

Trade Safe!

Raul Lopez
Forex Course

EURAUD analysis, forex

EURAUD in a clear bullish condition

One of the currency pairs that I’m currently monitoring, and looking for long opportunities is the EURAUD. It is trading well above all important levels on the short term charts. This is how the short term chart looks like:

Basically what I’m waiting for is just for a small retracement, then a significant pattern with upward pressure to go long.

The next LT resistance level on the EURAUD is at 1.4224

Trade Safe!

Raul Lopez
Forex Course

EURAUD analysis, forex