2 MA trading strategy Forex analysis for December 15


Today’s simple 2 MA trading strategy Forex analysis provides the technical outlook and setups for four pairs EURUSD, GBPUSD, AUDUSD and NZDUSD.

15 December, AtoZForex – Today’s Manufacturing sales m/m from Canada came out -0.8% analyst were expecting 0.7%. From Us economy we had CPI m/m 0.2% as expected, Core CPI m/m 0.2% as expected, Unemployment claims 254k.

What can we expect from the market after FOMC announcement yesterday?

Technical EURUSD analysis: Bearish

From price action perspective today’s 2 MA trading strategy Forex analysis for EURUSD indicates bearish price action. We can see from 1H chart the pair is trending below moving averages. We saw sharp move downwards after FOMC announcement yesterday. However, we can expect the pair to rebound from 20SMA at 1.0504 and continue downward. Therefore, our stop loss for this entry is more than 100 pips and I don’t recommend it.

2 MA trading strategy Forex analysis for December 15 2MA strategy Forex analysis for EURUSD (click to zoom in)

Technical GBPUSD analysis: Bearish

According to my 2MA Forex strategy, we saw bearish price action from GBPUSD since yesterday after the announcement of interest rate hike. We can see from 1H chart the pair is trending below moving averages. However, we can expect the pair to retrace back to 20SMA and develop further bearish scenarios.

2 MA trading strategy Forex analysis for December 15 2MA strategy Forex analysis for GBPUSD (click to zoom in)

Fx Pending SELL LIMIT @ 1.2590 With Stop Loss: 1.2650 and Take Profit: 1.2510

Technical AUDUSD analysis: Bearish

From today’s AUDUSD technical analysis we saw bearish price action. We can see from 1H chart the pair is trending below moving averages. However, we can expect the pair to retrace back to 20SMA at 0.7405 level and continue for further bearish scenarios.

2 MA trading strategy Forex analysis for December 15 2MA strategy Forex analysis for AUDUSD (click to zoom in)

Fx Pending SELL LIMIT @ 0.7405 With Stop Loss: 0.7480 and Take Profit: 0.7315

Technical NZDUSD analysis: Bearish

Lastly, for today’s NZDUSD technical analysis we saw bearish price action. We can see from 1H chart the pair is trending below moving averages. However, we can expect the pair to retrace back to 20SMA at 0.7096 level and continue for further bearish scenarios. Therefore, traders need to be cautious since our stop loss is more than 80 pips.

2 MA trading strategy Forex analysis for December 15 2MA strategy Forex analysis for NZDUSD (click to zoom in)

Fx Pending SELL LIMIT @ 0.7096 With Stop Loss: 0.7185 and Take Profit: 0.7015

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