Based on my personal 2 MA trading strategy Forex analysis, our USDCAD pending Buy Limit order at 1.2915 was triggered. At this moment the position is in profit of 28pips. What can we expect next for Loonie?
24 August, AtoZForex – The following is my 2 MA Forex trading strategy analysis for EURUSD, USDCHF, AUDUSD and USDCAD.
EURUSD analysis: Bearish
Based on today's morning analysis, we have missed the Sell opportunity at 1.1310 for approximately 10 pips. However, my odds are at bearish continuation and according to my 2 Ma Forex trading strategy we can expect the pair to continue upward at this given moment. Thereafter, EURUSD will retrace back, when it reach 20 SMA at 1.1290 level.
Fx pending SELL LIMIT @ 1.1290 with Stop Loss: 1.1340 and Take Profit: 1.1250
USDCHF analysis: Bullish
Following the morning analysis on USDCHF, the pair didn't trigger our pending Buy limit at 0.9628 level. The price was 1-2 pips away from the level, depending on your broker's spread. For those who catch this trend, they aim to approximately 50pips of profit so far. Hence, we can expect the pair to retrace back on 20 SMA and continue upwards.
Fx pending BUY LIMIT @ 0.9642 with Stop Loss: 0.9580 and Take Profit: 0.9690
AUDUSD analysis: Neutral
Based on today's morning analysis, our pending Sell limit order at 0.7618 level triggered. At this moment is in loss with approximately 8pips, I am still holding this position, since the pair reach 100 SMA and continues downwards. If we see the price closing above 100 SMA, then we can cut our losses.
Fx pending SELL LIMIT @ 0.7618 with Stop Loss: 0.7670 and Take Profit: 0.7585
USDCAD analysis: Bullish
Based on today’s analysis our pending Buy Limit order at 1.2915 was triggered, at this moment the position is in profit of 28pips. We can expect the pair to continue upward, but those who don’t want to risk it further can close this position. Considering, we have the oil inventories this evening.
Fx pending BUY LIMIT @ 1.2915 with Stop Loss: 1.2845 and Take Profit: 1.2960
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