There was no breakthrough of the trendline yesterday. The tendency is neutral at the moment. Investors are waiting for the Fed Head’s speech or other important data which is to be released this week. It is possible that the currency pair will be in this neutral position for the whole week. Today some important data from Eurozone and USA is to be released. Those statistics may bring some action to trading.
There is the uptrend on the Weekly chart as the price is above the MA55. This week may be corrective after some sharp growth during the last 5 days. There is a high probability of EUR/USD to grow towards 1,15000.
There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. We advise to avoid trading today.
GBP/USD had some growth after the announcement that British government prepares some measures to support the construction sector. If you opened sort trades, they were unsuccessful. However, GBP/USD is trading just below the trendline and the MA-channel prepares to change its direction. If 1,30800 is broken through, there is a high possibility of further downtrend to develop.
There is the downtrend on the Weekly chart as the price is below the MA55. The currency pair may go down below 1,30000 this week.
There is no trend on the Hourly chart as the MA-channel is horizontal and the price is above the MA55. We expect the current tendency to change and we advise to avoid long trades. You may try to open short positions when the price crosses 1,30800. Place stops above the MA55.
AUD/USD made a fake breakthrough of the trendline during Asian session. The short positions from 0,76000 were unsuccessful. However, stop orders were close and we advise to reenter the market when the price crosses 0,76000. There is no important data from Australia this week. It means that you have to pay attention to USA statistics and events.
There is still the uptrend on the Weekly chart as the price is above the MA55. Second Doji on the Weekly tells us that there is a struggle close to this resistance level. The price is unable to cross it. This fact may result in a change of the tendency.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is close to the MA55. WE advise to open short trades when the price crosses 0,76000.
The currency pair has changed its tendency on the Hourly chart. There was no opportunity to open long trades. Today you may try to buy regarding the probability of the trendline breakthrough. Place small stops.
There is no trend on the Weekly chart as the price is fluctuating around the MA55. USD/CHF closed last week above the trendline and the upside tendency may continue.
The uptrend is in progress on the Hourly chart as the MA-channel looks upwards and the price is above the MA55. We advise to open long trades from the MA55 area placing stops below this curve.