EUR/USD resumed its aggressive growth yesterday, offering no opportunities to open positions. This sharp USD decline is due to productivity data, published previously. This macroeconomic indicator continues to fall since the beginning of the year. The most important US data is to be published tomorrow and we expect EUR/USD to correct after yesterday’s rally.
There is no trend on the Weekly chart as the price is fluctuating around the MA55. The currency pair may grow towards the trendline and even try to cross it.
The uptrend is in progress on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. We advise to avoid trading as the price is already too far from the MA55 balance line.
There was no reverse of GBP/USD as the currency pair did not cross the 1,31000 level. The downtrend is in progress, although it is limited due to the weakness of USD. Today we expect GBP/USD to further decline and we advise to open short trades.
The downtrend is progressing on the Weekly chart as the price is below the MA55. GBP/USD tried to grow last week before the Bank of England meetings. However, the MPC’s decision had broken Bulls’ plans and the downtrend resumed.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is close to the MA55. We recommend opening short trades from the MA55 balance line.
AUD/USD reached its Weekly chart goals and may start correction and even lose some positions in the next couple of days. The current currency pair position is good for long trades. However, it is too risky to buy at the moment as the Weekly chart goals are already done.
The uptrend is in progress on the Weekly chart as the price is above the MA55. The currency pair closed last week in the positive area. However, the situation was unclear. We expect this positive dynamics to continue this week.
There is the uptrend on the Hourly chart as the MA-channel looks upwards and the price is above the MA55. We advise to avoid trading and to follow the situation.
USD/CHF was unable to reach the balance line yesterday and offered no opportunities to enter short trades. The change in tendency was very aggressive and there was only not a single chance to open positions. The price is still too far from the balance line to sell. We advise to avoid trading.
There is no trend on the Weekly chart as the price is fluctuating around the MA55. The sharp change in trend on the Hourly chart tells us about a correctional nature of the whole week.
There is the downtrend on the Hourly chart as the Ma-channel looks downwards and the price is below the MA55. We advise to avoid trading today.