The following is 21 August AtoZ Magic Forex Trading Strategy analysis for three major currency pairs EURUSD, GBPUSD and AUDUSD.
21 August, AtoZForex – In line with global political instability, market volatility and impact has changed. As we shared in the Gold Trade Signal, the main driver for these changes is the North Korea threat for the time being.
Magic EURUSD trading strategy for August 21
If it the first time you are reading or hearing about the AtoZ Magic Forex Strategy, I suggest seeing the strategy here. Based on today’s Magic Forex Trading Strategy analysis, EURUSD price is trading between pivot level and 100SMA. However, price is trading in a range due to today’s low volatility. While we can expect an increase in the demand 1.1717 level, more demand appear at the level of 1.1680.
In the contrary, we expect an increase in selling pressure from 1.1783 level. This is unless buyers manage to take control and push the price higher.
Today’s Pivot points and trade setups for EURUSD are as follows:
Pivot Point: 1.1745
R1: 1.1783, R2: 1.1812, R3: 1.1849
S1: 1.1717, S2: 1.1680, S3: 1.1651
AtoZ Magic Forex trading strategy for EURUSD
EURUSD Pending SELL LIMIT @ 1.1782 With Stop Loss: 1.1825 and Take Profit: 1.1740
Magic GBPUSD trading strategy for August 21
According to AtoZ magic Forex Trading Strategy, GBPUSD saw the price trading below 100SMA. However, buyers trying to take back control. If that happens we expect price to close above 100SMA towards to 1.2910 level. Meanwhile, GBPUSD price remains capped below 1.29 handle amid moderate risk-aversion. Moreover, if 100SMA holds we expect further pressure to the downside towards to 1.2824 level.
GBPUSD fundamental drivers:
Fundamentally, GBPUSD should gain more volatility with the second estimate of the UK’s Q2 GDP and US durable goods data. These two announcements are due later this week. On the other hand, Yellen’s speech at the Jackson Hole Symposium should define the USD trend direction too.
Today’s Pivot points and entry levels for GBPUSD are as follows:
Pivot Point: 1.2870
R1: 1.2910, R2: 1.2956, R3:1.2996
S1: 1.2824, S2: 1.2785, S3: 1.2738
AtoZ Magic Forex trading strategy for GBPUSD
Magic AUDUSD trading strategy for August 21
AUDUSD AtoZ magic Forex Trading Strategy saw retracing from yesterday’s first resistance area and is currently trading at today’s pivot level. We expect further selling pressure towards to 100SMA and S1 level for today. However, if buyers manage to take back control we can expect the price to move towards to R1 level.
Today’s Pivot points and entry levels for AUDUSD are as follows:
Pivot Point: 0.7911
R1: 0.7956, R2: 0.8000, R3: 0.80405
S1: 0.7872, S2: 0.7832, S3: 0.7788
AtoZ Magic Forex trading strategy for AUDUSD
AUDUSD Pending BUY LIMIT @ 0.7882 With Stop Loss: 0.7850 and Take Profit: 0.7930
These entries are just automatic suggestions from the strategy. AtoZForex is not responsible for neither profit nor the loss due to these suggestions.