Based on my personal 2 MA trading strategy Forex analysis, I share with you the technical outlook and setups for five currency pairs.
22 August, AtoZForex – The following is my 2 MA Forex trading strategy analysis for EURUSD, USDCHF, AUDUSD, EURCHF and USDCAD.
EURUSD analysis: Neutral-Bearish
We saw bearish price action development in Asia session, now the price is trending below 20 SMA and 100 SMA. Hence, we can expect the pair to reach 1.1300 and continue downward. However, I don’t recommend any position at this given moment. My recommendation is to wait for the 20 SMA to cross 100 SMA for a stronger bearish confirmation.
USDCHF analysis: Bullish
The pair is developing bullish price action on the H1 timeframe. However, on the daily chart the trend is bearish, for intraday position we can expect the pair to retrace back on 20 SMA on H1 at 0.9614 and continuous upward to 0.9700 level.
FX pending BUY LIMIT @0.9614 with Stop Loss: 0.9570 and Take Profit: 0.9700
AUDUSD analysis: Neutral
According to my 2 MA trading strategy, there is no clear view on this pair. We saw bearish price action over the last 2 days, but I don’t recommend any entry at this given moment.
See also: 12 Weekly Forex Trading Tips
EURCHF analysis: Neutral-Bullish
As we can see from the EURCHF H1 chart, the pair developed a bullish price action and is now trending above the 20 SMA and 100 SMA. However, on daily chart the pair is in range. Therefore, we can expect the price to continue upward to 100 SMA on the daily chart 1.0924. At this given moment, we can expect the pair to retrace back on 20 SMA and built bullish positions at 1.0870 level.
Fx Pending BUY LIMIT @ 1.0870 with Stop Loss: 1.0830 and Take Profit: 1.0924
USDCAD analysis: Bullish
Based on my 2 MA trading strategy forex analysis for USDCAD, we can see bullish price action on the H1 timeframe. However, the pair is currently above 20 SMA and I expect it to retrace back at 1.2892 level and continue upward to 1.2953, which is 100 SMA on daily chart.
Fx Pending BUY LIMIT @ 1.2892 with Stop Loss: 1.2830 and Take Profit: 1.2953
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