The following is AtoZ Magic Forex Trading Strategy analysis for three major currency pairs EURUSD, GBPUSD and AUDUSD.
16 March, AtoZForex – Today we have market expectations along with pivot points for three currency pairs.
Magic EURUSD trading strategy for March 16
Based on today’s AtoZ Magic Forex Trading Strategy analysis for EURUSD saw sharp bullish price developments after FOMC announcement yesterday. Price manage to reach yesterday’s R3 level and closed above it. Although, the pair is on a bullish direction bears might take control and push the price towards to S1 level and 100SMA. However, if bulls remain in control we might see price towards to R1 level at 1.0783. Hence, stochastic indicator is trading below 50 level with a bearish slope.
Today’s Pivot points and trade setups for EURUSD are as follows:
Pivot Point: 1.06936
R1: 1.0783, R2: 1.0829, R3: 1.0918
S1: 1.0647, S2: 1.0558, S3: 1.0512
Fx Pending BUY LIMIT @ 1.0650 With Stop Loss: 1.0570 and Take Profit: 1.0780
Fx Pending SELL LIMIT @ 1.0782 With Stop Loss: 1.0840 and Take Profit: 1.0650
Magic GBPUSD trading strategy for March 16
According to AtoZ magic Forex Trading Strategy for GBPUSD saw sharp move to the upside and pair manage to close above R2 level. However, is currently trading at pivoted level. Due to major fundamentals news upcoming later on today we expect high volatility from this pair. Hence, if bears remain in control we expect to push price towards to 100SMA and S1 level. Moreover, if bulls manage to take back control we expect to push price towards to R1 level.
Today’s Pivot points and entry levels for GBPUSD are as follows:
Pivot Point: 1.2247
R1: 1.2214, R2: 1.2274, R3:1.2326
S1: 1.2102, S2: 1.2049, S3: 1.1989
We don’t recommend any entry for today due to UK monetary policy announcement at 12:00 GMT.
Magic AUDUSD trading strategy for March 16
For today’s AUDUSD AtoZ magic Forex Trading Strategy saw bullish price developments above R3 level. Hence, pair is currently trading In a neutral direction above pivot point. If bulls take control we can expect price to reach R1 level and continue downwards. A break above R1 will indicate further bullish price developments towards to R2 level. Although, the pair is on a bullish direction if bears manage to take control we expect to push the price towards to S1 and 100SMA at 0.7600 level.
Today’s Pivot points and entry levels for AUDUSD are as follows:
Pivot Point: 0.7660
R1: 0.7579, R2: 0.7599, R3: 0.7618
S1: 0.7540, S2: 0.7521, S3: 0.7501
Fx Pending SELL LIMIT @ 0.7765 With Stop Loss: 0.7840 and Take Profit: 0.7660
Those entries are just recommendations you are responsible for a proper money management and risk management!
Think we missed something? Let us know in the comments section below!