There was no expected correction on Friday. EUR/USD continued to fall. The downtrend may develop to 1,1200 (here lies the hourly trendline). However, as this currency pair had a considerable fall, there is a possibility of a correction before the price gets the target that we have announced above. The main event of this week is FOMC sessions.
There is an uptrend on the Weekly chart as the price is above MA55. The price goes back to the MA55 and this may break the trend in the nearest future. However, the uptrend will be actual before the price goes through the MA55.
As for the Hourly chart, there is a downtrend here as the price is below MA%%. The MA-channel goes downwards. The price is close to the lower boundary of the cannel. It is better to stay off the market before the price is back to the MA55 area because of high risks.
A downtrend in GBP/USD has gained strength. The price broke some significant support levels. It is close to another support at the moment. You may try to us this opportunity to open positions. The volume should be low as the risks are high. The target of this position may be 1000 points higher the current price.
Weekly chart shows a downtrend as the price is belowMA55. The retest was unable to break the current downtrend. Further dynamics was established by Friday’s fluctuations.
As for the Hourly chart, there is also a downtrend as the price is below MA55, the MA-channel looks downwards. You may try long positions from 1,4175/95 with stop-losses at 1,4150. Remember, that those positions are of high risks.
AUD/USD resumed correction according our expectations. The main reason for this is the fall of Oil price. This week we recommend to pay attention at labor market data in Australia.
Weekly chart shows still shows an uptrend as the price is above MA55. However, we may testify that the crucial moment has come. There is some incertitude in the market.
As for the Hourly chart, we may see a downtrend as the price is below MA55 and the MA-channel has changed its direction. If the price goes back to the MA55 area, you may try short positions with close targets as the price is in correction at the moment.
USD/CHF resumed the expected correction. It fluctuated in both directions on Friday (in the limited range). Neverthless, the price may grow a little.
Weekly chart shows a crucial moment as the price fluctuates around MA55. The price went below the MA55 as we had expected it. There is a probability that the downtrend resumes this week.
Hourly chart shows the uptrend (as the correction to the downtrend) as the price is above MA55. The MA-channel goes upwards. Correction continues and may touch 0,9700 at least. You may try long positions from the MA55. Stop loss may be placed below Friday’s low.