EUR/USD continues to trade within a range. It is possible that traders are awaiting for some serious drivers in order to resume active dynamics. Yesterday’s statistics on revised GDP q/q in Eurozone has shown better results. It is a good driver for EUR/USD/. However, to resume the rally, some negative US data needed. It is also to mention, that every range has to be broken some day and we may see some momentum in the near future.
Weekly chart shows the uptrend as the price is higher than MA55. EUR/USD has clearly bounced of the MA55, resuming the uptrend. We expect that the upward dynamics prevails this week.
Hourly chart shows an upside direction as the price is higher than MA55 and the MA-channel is moving upwards. The price is back to the MA55 area and here is a good opportunity to open long positions. Stop loss may be placed behind the last days’ lows.
GBP/USD has ended yesterday’s session with a hike. However, new unexpected momentum may take place. The results of the newest interviews concerning the “Brexit” may considerably influence the dynamics of GBP/USD. As we have previously mentioned, it is better to stay off the market for the moment. At least until the end of referendum that will take place in two weeks.
Weekly chart shows the downtrend as the price is lower than MA55. The retest was unable to break the downside trend. It is hard to predict further dynamics and we do not give any trading advises.
Hourly chart shows the uptrend as the price is moving higher than MA55. The MA-channel is rising. Yesterday the trend line was broken resuming the upside trend. Only long positions are preferred. However, due to the above mentioned reasons, we do not give any recommendation.
Yesterday’s morning upside momentum resulted in further moderate growth. Uptrend is likely as almost all data gives support to AUD/USD, except today’s Home Loans m/m statistics. This data interrupted the uptrend. However, we think that this short stop is not crucial. Today’s China stats has also confused the market a bit.
Weekly chart shows the uptrend as the price is higher than MA55. There is a good opportunity to resume the upside direction.
Hourly chart shows the uptrend as the price channel goes up and the price is still higher than MA55. The price is going towards MA55 area and you can try long positions close to 0,7400 area.
The currency pair has continued to go down in an aggressive manner without living a trader a single opportunity to open any position. However, it is better to skip a chance than to get a loss. We recommend waiting until MA55 to find short signals.
Weekly chart shows the critical moment as the price is too close to MA55. Once MA55 is broken, the downtrend may take place for the next couple of weeks.
Hourly chart shows the downtrend as the price is lower than MA55 and the MA-channel goes down. The price is far from MA55 that is why we recommend to waiting until it goes back to the MA55 in order to search for short positions.