The following is 12 June AtoZ Magic Forex Trading Strategy analysis for three major currency pairs EURUSD, GBPUSD and AUDUSD.
12 June, AtoZForex – With no major economic drivers today. What can we expect from the market?
Magic EURUSD trading strategy for June 12
Based on today’s AtoZ Magic Forex Trading Strategy analysis for EURUSD saw bullish price developments on Friday. However, the price is trading below R1 and 100SMA. We can expect the price to retrace from R1 and 100SMA at 1.1230 and continue downwards. Hence, a break above R1 level will indicate further bullish price continuation towards R2 at 1.1268 level.
Today’s Pivot points and trade setups for EURUSD are as follows:
Pivot Point: 1.1198
R1: 1.1231, R2: 1.1268, R3: 1.1300
S1: 1.1161, S2: 1.1129, S3: 1.1092
Fx Pending BUY LIMIT @ 1.1162 With Stop Loss: 1.1120 and Take Profit: 1.1230
Fx Pending SELL LIMIT @ 1.1230 With Stop Loss: 1.1275 and Take Profit: 1.1180
Magic GBPUSD trading strategy for June 12
According to AtoZ magic Forex Trading Strategy for GBPUSD saw bearish price developments after U.K elections last Thursday. However, the price is trading at today’s pivoted area with 100SMA sloping on a bearish direction. Hence, our resistance and support areas are far from the current price although we don’t expect major movements today. Stochastic indicator is sloping on a bearish direction also. If bears remain in control we can expect further bearish price developments towards S1 level at 1.2640.
Today’s Pivot points and entry levels for GBPUSD are as follows:
Pivot Point: 1.2734
R1: 1.2833, R2: 1.2928, R3:1.3027
S1: 1.2640, S2: 1.2540, S3: 1.2446
Fx Pending BUY LIMIT @ 1.2640 With Stop Loss: 1.2530 and Take Profit: 1.2830
Fx Pending SELL LIMIT @ 1.2830 with Stop Loss: 1.2940 and Take Profit: 1.2640
Magic AUDUSD trading strategy for June 12
For today's AUDUSD AtoZ magic Forex Trading Strategy saw price closing above 100SMA and is currently trading at 0.7540 which is our first resistance level for today. If the price close above R1 we expect the bulls to remain in control and push the price towards to R1 and R3 level respectively. Moreover, we expect the bears to take control from R3 level and push the price towards to S1 at 0.7516 level. However, a break above R3 level will indicate further bullish continuation towards to 0.7590.
Today’s Pivot points and entry levels for AUDUSD are as follows:
Pivot Point: 0.7526
R1: 0.7541, R2: 0.7555, R3: 0.7566
S1: 0.7516, S2: 0.7505, S3: 0.7491
Fx Pending SELL LIMIT @ 0.7566 With Stop Loss: 0.7610 and Take Profit: 0.7516
Those entries are just recommendations you are responsible for proper money management and risk management!
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