Tag: USDJPY

Is there still time/room to trade the EURUSD?

I’m afraid there isn’t my friend… At least for now.

Look, the idea is always to trade a currency pair is to trade it when there is enough room for the market to continue its way up or down.

But right now, the EURUSD is trading too close to its next LT level (which is at 1.2818).

Right now, the EURUSD is trading around 1.2886, so we have like 70 pips before the market hits that level…

Here is the long term chart:

EURUSD 1D

But you need to remember one thing…

EURUSD, forex, USDJPY

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I’m going to trade these two pairs (with possible entry levels)

technical indicators

Traders, I hope you had a great weekend! And had some rest because you are going to need it!

Last week was a difficult week to trade, we had plenty of fundamental announcements: interest rates, NFP, Central Banks conferences, etc, etc, etc.

No wonder why so many traders and investors didn’t trade much in the last two weeks, you can see that because of the low volume and small ranges (i.e. GBPUSD hourly chart)…

But things should be different now.

Now, there are a few currencies that are still trading in a consolidation period, they should be out of it by the end of the week.

And that’s good news for us, usually when the market gets out of those consolidation periods it really moves, so I think we all should be ready when it happens.

EURCAD, forex, USDJPY

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