Our yesterday’s recommendations on closing some trades were made in the right time as the bounce was considerable. Fibonacci level on Weekly has done its job well. Today we expect some grow back to MA55.
On the Weekly chart there is an uptrend as the price is above MA55. EUR/USD clearly bounced off the MA55, resuming the uptrend. We expect that a positive dynamics will prevail this week.
As for the Hourly chart, we may state a downtrend as the rice is below MA55 and the MA-channel moves downwards. Today we recommend staying away from the market. However, if you want to make some trades, do it carefully with low volume.
The currency pair EUR/USD changed its direction, influencing the same changes in GBP/USD as we expected yesterday. Technical image is now negative and we expect some downside trading. It is better to stay off the market before the end of the Referendum on “Brexit” as we have previously noticed. This event is expected it one and a half week.
Weekly chart shows a downtrend as the price is lower than MA55. The retest was unable to break the downtrend. It is difficult to forecast further “cable” dynamics that is why I do not give any recommendations.
There is a downtrend on the Hourly chart as well as the price is currently below MA55. The MA-channel looks downward. Today we may see the same dynamics as yesterday.
The uptrend in AUD/USD slowed down and the expected correction took place. At the moment there is no potential for further growth and today we expect the progress of the correction (in both directions).
Weekly chart shows an uptrend as the price is still above MA55. There is an opportunity to resume the uptrend.
Hourly chart shows a downtrend as the price is below MA55 and the MA-channel has changed the direction. We advise to skip trading during correction as there are high risks.
The expected correction in USD/CHF took place. That is why we gave no recommendations yesterday. Previous downtrend was about 3000 points. This trend was so strong that there was almost not a single correction to make any trade. This may happen sometimes. The risks are high and we have decided to stay away from the market.
Weekly chart shows the crucial moment as the price is close to MA55. If the price breaks the curve (MA55), we expect the downtrend for a couple of weeks.
As for the Hourly chart, there is still a downtrend. The MA-channel looks downward; however the price is above MA55. We have become witnesses of a considerable correction. Now we expect a both sides correction.