EUR/USD still holds neutral position. US New Home Sales data was rather strong and gave some support to USD. The currency pair tests the trendline at the moment on the Hourly chart. However, the breakthrough of the trendline during the Asian Session may be fake. We advise to pay attention to US Existing Home Sales data today as USD may be given some more support like it was yesterday.
The uptrend is in progress on the Weekly chart as the price is above the MA55. A correction is possible after some sharp momentum last week. There is a high probability of growth towards 1,15000 in the next couple of weeks.
There is no trend on the Hourly chart as the MA-channel is horizontal and the price is below the MA55. We advise to avoid trading today.
GBP/USD continued its growth. There was no opportunity to open trades as the price did not reach the key level for short positions. The currency pair moves right below the trendline on the Hourly chart and we expect this dynamics to continue today as we see the uptrend. There is still some space for further growth towards 1,33000 regarding the Weekly chart.
There is the downtrend on the Weekly chart as the price is below the MA55. The currency pair may decline to 1,30000 this week.
The uptrend is in progress on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. You may try long trades from 1,31500 today. Place stops below the MA55.
There was no decline below 0,76000 to open short trades according to our recommendations. The trend is neutral at the moment. The situation may remain unclear until the Fed Head’s Yellen speech which is to take place on Friday. This event may determine further direction of fluctuations.
There is still the uptrend on the Weekly chart as the price is above the MA55. Second Doji on the Weekly chart tells us that there is a struggle close to the resistance level. The price is unable to cross this level which may result in a change of the current tendency.
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.
USD/CHF broke through the trendline according to our expectations. You could open long trades from the MA55. Stop should be placed at 150 pips from the order as there is no sense to place it closer regarding this currency pair. This position could bring you some profit. You could move stops to a breakeven level and hold the trade.
There is no trend on the Weekly chart as the price is fluctuating around the MA55. USD/CHF closed above the trendline and the uptrend may continue.
There is the uptrend on the Hourly chart as the MA-channel looks upwards and the price is above the MA55. We advise to hold long trades.