AtoZ Magic Forex Trading Strategy for January 16


The following is AtoZ Magic Forex Trading Strategy analysis for three major currency pairs EURUSD, GBPUSD and AUDUSD. 

16 January, AtoZForex – Today we have market expectations along with pivot points for three currency pairs.

Magic EURUSD trade setups for January 16

Based on today’s AtoZ Magic Forex Trading Strategy analysis for EURUSD saw bearish price developments. The pair close below 100SMA and S1 level. Stochastic indicator is below 50 level with bearish signal. We can expect the price to rebound from S1 level and continue downward to S2 at 1.0559 level.

Today’s Pivot points and trade setups for EURUSD are as follows:

R1: 1.06763, R2: 1.07133, R3: 1.07534

S1: 1.0597, S2: 1.05591, S3: 1.05221

AtoZ Magic Forex Trading Strategy for January 16 AtoZ Magic Forex trading strategy for EURUSD (click to zoom in)

Magic GBPUSD trade setups for January 16

According to AtoZ magic Forex Trading Strategy for GBPUSD saw big gap opening and pair trading below S2 level. However, stochastic indicator is above 50 level with bullish indication. We can expect a rebound from S1 level and continue downward. For bullish entries, we can expect the pair to rebound again from 1.2021 level.

Today’s Pivot points and entry levels for GBPUSD are as follows:

R1: 1.22442, R2: 1.22943, R3:1.23558

S1: 1.21326, S2: 1.20711, S3: 1.2021

AtoZ Magic Forex Trading Strategy for January 16 AtoZ Magic Forex trading strategy for GBPUSD (click to zoom in)

Magic AUDUSD trade setups for January 16

For today’s AUDUSD AtoZ magic Forex Trading Strategy saw pair retrace from S1 level and continue upward. However, stochastic indicator is below 50 level and is sloping on bullish direction. Therefore, for long entries we can expect the pair to rebound from 100SMA with a stop loss below S3 level. For bearish entries, we can expect the pair to rebound from R1 level with stops above R2 level.

Today’s Pivot points and entry levels for AUDUSD are as follows:

R1: 0.75246, R2: 0.75459, R3: 0.75836

S1: 0.74656, S2: 0.74279, S3: 0.74066

AtoZ Magic Forex Trading Strategy for January 16 AtoZ Magic Forex trading strategy for AUDUSD (click to zoom in)

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