Today’s simple 2 MA trading strategy Forex analysis provides the technical outlook and setups for four pairs EURUSD, EURJPY and USDJPY.
27 October , AtoZForex – Today’s agenda has Core durable goods orders and Unemployment claims from US. Later this evening we expect Pending Home Sales m/m for US.
Technical EURUSD analysis: Neutral-Bullish
From price action perspective today’s 2 MA trading strategy Forex analysis for EURUSD indicates bullish price development. However, we can see from 1H chart that both 20SMA and 100SMA are neutral. Therefore, I don’t recommend any position for this pair today.
Technical EURJPY analysis: Bullish
According to my 2MA Forex strategy, we saw bullish price development for this pair. We can see from 1H chart the price is above both moving averages. However, we can expect the pair to retrace back to 20SMA at 114.06 level and continue towards to 114.55.
Fx Pending BUY LIMIT @ 114.06 With Stop Loss: 113.55 and Take Profit: 114.55
Technical USDJPY analysis: Bullish
From today’s USDJPY technical analysis we can expect the pair to continue upward. We can see from 1H chart the pair is trending above both 20SMA and 100SMA.We can expect the pair to retrace back to 20SMA at 104.56 level and continue upward.
Fx Pending BUY LIMIT @ 104.56 With Stop Loss: 104.20 and Take Profit: 104.86
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