Today’s simple 2 MA trading strategy Forex analysis provides the technical outlook and setups for three pairs EURUSD, GBPUSD and NZDUSD.
15 November, AtoZForex – Today’s economic news from US are as follows.
Core Retail Sales m/m: 0.8% forecast was 0.5%.
Retail Sales m/m: 0.8% analyst forecast was 0.6%.
Empire state Manufacturing Index: 1.5 forecast was -1.5.
Import prices m/m: 0.5% forecast was 0.4%.
Technical EURUSD analysis: Neutral-Bearish
From price action perspective today’s 2 MA trading strategy Forex analysis for EURUSD indicates bearish price development. As we expected yesterday the pair reach 1.0710 level and developed bullish price action. However, we can see from 1H chart 100SMA indicates bearish price developments. If bulls remain in control we can expect the pair to continue towards to 1.0854 level which is 100SMA on 1H chart.
Fx Pending SELL LIMIT @ 1.0854 With Stop Loss: 1.0895 and Take Profit: 1.0815
Technical GBPUSD analysis: Neutral-Bearish
According to my 2MA Forex strategy, we saw bearish price action development for this pair. We can see from 1H chart the pair is trending below both 20SMA and 100SMA. Hence, 20SMA is slopping downward and 100SMA is neutral. We can expect the pair to retrace back to 20SMA at 1.2475 and continue downward.
Fx Pending SELL LIMIT @ 1.2470 With Stop Loss: 1.2510 and Take Profit: 1.2435
Technical NZDUSD analysis: Neutral-Bearish
From today’s NZDUSD technical analysis we can expect the pair to continue downward. Our yesterday Sell limit order triggered and we are at our entry point at this moment. We can see from 1H chart the pair is trending below both moving averages. Therefore, i am still holding this position from yesterday.
Think we missed something? Let us know in the comments section below!