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Posts Tagged ‘EURGBP’

Here are a few trade ideas

Pound Dollar

Hey trader, how is your trading going so far this week?

I’ve seen the market started to move in a few currency pairs, in some others the market has been pretty slow.

So I guess it’s all about choosing the right currency pairs to trade.

That’s the reason I encourage you to look and analyze a wide variety of currency pairs, or instruments. If for some reason you dont feel comfortable with any pair, you can always trade gold for instance, or oil, or indices or high volume stocks, etc.

But please, make sure you only trade the ones that have a clear market condition… the ones that you feel comfortable with, the ones that have clear S&R levels and clear swings.

If you focus on those, sooner or later, results will come. You just need to be patient and trade when the odds are in your favor.

That’s it, that’s what trading is all about: choosing the right instruments to trade, and trade them at the right time.

What do you say?

Ok, lets get to some charts…

EURUSD Analysis

The EURUSD has been trading in a very clear bearish condition, that means that it is likely to continue its way down…

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EURGBP and GBPJPY Trade Ideas

Brokers to Avoid

Hey trader, how is the market behaving lately?

Its been quite slow hasn’t it? In most currency pairs it has been ranging and most of the time, in a not well defined range, making it very difficult to trade.

Take a look at the EURUSD, its been like that, its been ranging since the last week of January, with only one major quick move (fundamentally driven by the way)… but other than that, its been slow, not well defined, etc.

I wonder how traders that only trade the EURUSD are doing… probably not very well…

This is today’s best trade opportunity

Pound dollar

Hey trader, what do you think about the market this week so far?

Some crosses are still trading in undefined ranges, without clear S&R levels, no clear wings, etc.

But little by little, each one of them are getting out of that consolidation period that made it very difficult to trade.

And here is one example.

The EURGBP just broke through an important support

The EURGBP was trading in a difficult range to trade I would say… But it looks like its getting our of that range. Here is the daily chart:

EURGBP: Bearish market condition, looking for shorts

The EURGBP traded in a short term range in the last few days but now apparently is out of that range:

EURGBP

EURGBP

It will probably head down and hit the next LT support level.

My trading plan:

As long as the EURGBP trades below 0.8970 I will be looking for short opportunities. Please keep in mind that we might find some short term support around 0.8932

All long opportunities will be ignored.

Trade Safe!
Raul Lopez

EURGBP: Bullish & looking for long opportunities

The EURGBP is one of the Forex crosses that has been trading consistently between support and resistance levels. I like it when I see any pair behaving like this; it gives me confidence and feel more comfortable looking for trade opportunities.

Please take a look at the next chart:

EURGBP

EURGBP

Now that it is clear that the EURGBP broke the resistance level, I will be looking for long opportunities until it reaches the next LT resistance level.

My Trading Plan:

As long as the EURGBP trades above 0.9118 I will be looking for long trade opportunities. My next LT resistance level is at 0.9271

All short opportunities will be ignored.

Trade Safe!
Raul Lopez

EURGBP: Bearish Market Condition, short opportunities in play

The EURGBP is trading in a medium term range in between 0.9272 and 0.9079, around a 200 pip range. This is very nice range for this cross as it doesn’t move that much. Please take a look at the next chart:

EURGBP

EURGBP

Since the EURGBP was rejected from the long term resistance level, we should be looking for short trading opportunities.

My Trading Plan

As long as the market keeps trading below 0.9241, I will be looking for short trading opportunities. All take profit orders will be placed above the next long term support level around 0.9079

All short trading opportunities will be ignored.

Trade Safe!

Raul Lopez

EURGBP: Long opportunities in play

The EURGBP traded in a tight range in between 0.8817 and 0.8721 for almost three weeks, but now, it broke the long term resistance and it is trading in a strong bullish market condition. Please take a look at the next chart:

EURGBP

EURGBP

Its likely that the EURGBP will reach its next long term resistance level around 0.9019.

My Trading Plan:

I will look for long trading opportunities and will set all my TP orders below the next resistance around 0.9019.

Al short trading opportunities will be ignored.

Good luck!

Raul Lopez

EURGBP: Looking for short opportunities

The EURGBP just entered into a bearish market condition. It traded for 3 days in a short term range in between 0.8823 and 0.8776 (because it was trading at an important long term resistance level – blue line). Please take a look at this chart:

EURGBP

EURGBP

So, we will have a bearish market condition as long as the market continues to trade below the short term range.

Here is my trading plan:

As long as the market continues to trade below 0.8776, I will look for short trading opportunities, targeting the next long term support level at 0.8649.

All long opportunities will be ignored.

Good luck

Raul Lopez

EURGBP Trading Plan

Earlier today I thought the EURGBP was getting ready to bounce back from its main support level (it has been trading in a range since the 19th of April). But things have changed a little since this morning; please take a look at the chart below:

EURGBP

EURGBP

The EURGBP is now trading below the main support level of 0.8784, this means that we need to be looking for short opportunities in the short term charts. Take profit orders will be placed a little above the next support level of 0.8645.

Remember:

Green levels: Short term S&R levels
Blue levels: Long term S&R levels

Good luck!

Raul Lopez