Today’s simple 2 MA trading strategy Forex analysis provides the technical outlook and setups for three pairs EURUSD, GBPUSD and AUDUSD.
23 December, AtoZForex – Today’s economic agenda has GDP m/m for Canadian economy. No other major news today as we are coming at the end of this week.
What can we expect from the market today?
Technical EURUSD analysis: Neutral
From price action perspective today’s 2 MA trading strategy Forex analysis for EURUSD neutral price developments according to our moving averages. However, the pair yesterday moved sharply towards to 1.0498 level which found big sellers and after this sharp move the pair manage to close below 20SMA. Therefore, we can see from 1H chart the pair is trading above both moving averages however, both are neutral. We are at the end of this week and I don’t recommend any position for this pair today.
2MA strategy Forex analysis for EURUSD (click to zoom in)
Technical GBPUSD analysis: Bearish
According to my 2MA Forex strategy, we saw bearish developments from this pair. We can see from 1H chart the pair rebound from 20SMA and continue downward this morning. However, we can expect the pair to continue upward towards to 100SMA at 1.2355 level and continue downward. Therefore, I don’t recommend any position for this pair today.
2MA strategy Forex analysis for GBPUSD (click to zoom in)
Technical AUDUSD analysis: Neutral-Bearish
From today’s AUDUSD technical analysis we saw neutral price developments. We can see from 1H chart the pair is trading at 20SMA level. We can expect the pair to break that level and head towards to 100SMA at 0.7240 level and continue downward.
2MA strategy Forex analysis for AUDUSD (click to zoom in)
Fx Pending SELL LIMIT @ 0.7240 With Stop Loss: 0.7310 and Take Profit: 0.7140
Think we missed something? Let us know in the comments section below.