Tag: Forex majors

How to trade the majors when they just dont move

Hey traders, I hope you are doing alright with your trading.

What do you think about the market lately? In the last few weeks, most of the currency pairs (specially the majors) have been trading in a very tight and undefined range…

It has been difficult to trade them… What’s your take?

Ok, let me tell you mine… but first something about fundamentals.

Fundamentals for the rest of the week

There are plenty of fundamentals this week, and a few of them are very important.

So maybe that’s the reason the market has been trading in a very tight range? It could be… but the truth is that no one knows the real reason…

Anyway, these are a few of the fundamentals that you need to be watching this week:

Wednesday:

USD FOMC minutes (the most important of them all)
EUR Draghi Speaks
AUD Employment report

Thursday:

GBP Interest rate
EUR Draghi Speaks

Friday:

CAD Employment report

I’m going to be specially careful about the FOMC minutes, it has the potential to change the sentiment of the market, so be careful alright? Specially if you plan to open a trade in any USD pair or if you have a trade open and the market is close to your entry or SL level…

Forex Majors Analysis

Almost all majors have been trading in a very tight and undefined range… If you have been trading them you know what I’m talking about…

CADJPY, Forex majors, fundamentals, GBPUSD

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Next week, majors week?

Trades Update: I decided to close all my trades, I had a couple trades in CAD crosses and decided to close them before the CAD unemployment announcement.

I think next week will be a good one for the majors, most of them are trading in a very clear market condition:

EURUSD: bullish
USDCHF: bearish
GBPUSD: bullish
AUDUSD: bullish
NZDUSD: bullish
USDCAD: bearish

Basically I´ll be USD bearish…

Have a great weekend!

Raul Lopez
Forex Training

Forex majors

Major Power

The market is getting clearer and clearer by the minute, yesterday I was unsure about many currency pairs, they were either trading at an important level in a not well defined range in the short term charts, or unsure about the long term levels.

But things are different now, most pairs cleared up their path and are in the clear market condition, heading directly to the next LT level.

Today a like the Majors:

EURUSD – Clear bearish market condition (shorts in play)
USDCHF – Bullish when trading above 0.9697 (longs in play)
GBPUSD –Bearish when trading below 1.5730 (shorts in pay)
USDJPY – Clear Bearish market condition (although I don’t think I’ll open a trade in this one because of a possible BOJ intervention).

That’s my plan for the majors!

Trade Safe!

Raul Lopez
Forex Training

EURUSD Analysis, Forex majors, GBPUSD Analysis, USDCHF analysis, USDJPY Analysis

EURUSD: Retracement it is…

Since last December the EURUSD has been falling like a rock, it follow through on January and the first days of February. But we might be on the way of a small retracement (at least to the next LT resistance level):

EURUSD
EURUSD

It broke the resistance of the short term range and it is likely to continue its way up until it reaches at least, the next LT resistance level.

My Plan:

Look for long opportunities if the EURUSD keeps trading above 1.3707. Next LT resistance level is at 1.3846

All short opportunities will be ignored.

Trade Safe

Raul Lopez
StraightForex
http://www.protradingnow.com/

Euro analysis, EURUSD Analysis, Forex majors

USDCAD: Bearish, short signals in play

The USDCAD has been rejected from the main resistance zone around 1.0680:

USDCAD
USDCAD

It will probably continue its way down to the next LT support zone around 1.0412, therefore I will be looking for short opportunities.

Trading Plan:

As long as the USDCAD keeps trading below 1.0607 I will be looking for short trade opportunities.
Long opportunities will be ignored.

Trade Safe!
Raul Lopez

Canadian dollar, Forex majors, USDCAD Analysis

NZDUSD: Bullish market condition, looking for long opportunities

The NZDUSD has been trading in a short term range in the last few days, but apparently it is out of that range already triggering a bullish market condition:

NZDUSD
NZDUSD

At least the short term resistance has been broken and therefore I am going to be looking for long opportunities until the market reaches the next LT resistance level.

My Plan:

As long as the NZDUSD keeps trading above 0.7093 I will be looking for long opportunities

All short opportunities will be ignored

Trade Safe!
Raul Lopez

Forex majors, nzdusd, NZDUSD Analysis

EURUSD: Trading at an Important Level

If you take a look at the EURUSD daily or 4H chart it will look as if it was already rejected from the LT support level, but it hasn’t… yet:

EURUSD
EURUSD

I think it would be safer to start looking for long opportunities when the EURUSD breaks the 1.3927 for the upside (it’s pretty close though), only then I will be looking for long opportunities.

Trade Safe!
Raul Lopez

Euro, Euro analysis, EURUSD Analysis, Forex majors

AUDUSD: Second Call, Bearish market condition

Earlier this week I wrote about the AUDUSD being in a bearish market condition, but it came back and traded in a new range, well… it is again in a bearish market condition:

AUDUSD
AUDUSD

My Trading Plan:

As long as the AUDUSD keeps trading below 0.8937 I will be looking for short trade opportunities.

All long opportunities will be ignored.

Trade Safe!
Raul Lopez

AUDUSD Analysis, aussie, aussie analysis, australian dollar, Forex majors

USDCAD: Trading at a LT resistance level

The USDCAD is trading at an important LT level:

USDCAD
USDCAD

We need to wait for the market to break either side of the range, then we’ll start looking for a trade opportunity.

My Plan:

If the USDCAD breaks the ST resistance level, it will trigger a bullish market condition and I’ll be looking for long opportunities.

If the Canadian Dollar breaks the ST support level, it will trigger a bearish market condition and I’ll be looking for short opportunities.

Trade Safe!
Raul Lopez

Canadian dollar, Forex majors, USDCAD Analysis