Yesterday’s long positions for EUR/USD are still actual. The price rose after long period of hesitation. However, there is an obstacle on the way – 61,8% Fibonacci level on Weekly chart. The price probably may have a downwards correction from those levels.
Weekly chart demonstrates an uptrend as the price is higher than MA55. EUR/USD has clearly bounced from MA55, resuming the uptrend. We think that the upside dynamics will prevail this week.
We can see an uptrend on the Hourly chart as well as the price is higher than MA55 curve and the MA-channel moves upwards. We recommend to close some of your positions (or all of them) in order to save your profits as there is a high probability of a significant correction in the nearest future.
The upside direction is still actual for GBP/USD, although the price is lower than MA55. In the same time the eventual decline in EUR/USD may boost the decline in GBP/USD breaking the current technical image. This may result in the change of the actual trend.
As we have previously mentioned, it is better to stay off the market for GBP/USD before the “Brexit” referendum takes place. One week and a half left before the event.
Weekly chart shows a downtrend as the price is lower than MA55. The downtrend resisted recent retest. It is difficult to predict further dynamics, that is why we do not give any recommendations.
As for the Hourly chart, we still have here an uptrend as the MA-channel moves upwards although the price is lower than MA55. We could recommend log positions. However, we do not give any clear advises because of the above mentioned reasons.
AUD/USD refrained from going towards 0,74000. As you may clearly see on the chart, the sharpness of the uptrend disappears step-by-step. It may probably results in correction. China statistics was worse than expected. This may lead to negative dynamics in AUD/USD as China is a biggest trade partner of Australia.
On the Weekly chart we can see an uptrend as the price is higher than MA55. There is a good opportunity to resume the upside direction.
Hourly chart shows an uptrend as the MA-channels moves upwards and the price is still above MA55. We do not recommend any long positions today, as the trend loses its power and correction may take place.
There is a powerful trend in USD/CHF. It is very difficult now to open any position. It is better to stay off the market as the price has considerably risen and the correction may take place in the nearest future.
Weekly chart shows crucial moment as the price is close to MA55. If the price breaks it, a downtrend for a couple of weeks is probable.
Hourly chart demonstrates a downtrend as the price is lower than MA55. The MA-channel moves downwards. We advise to stop trying to open short positions as there is a probability of a correction.