EUR/USD broke through a month high as we expected. The horizontal level was crossed. You had an opportunity to open long positions according to our recommendations from the MA55 area although this curve was a bit far from the price. Today we expect EUR/USD to continue its growth. Pay attention to the US and Eurozone Services PMIs.
The neutral trend is still in progress on the Weekly chart as the price is fluctuating around the MA55. EUR/USD closed last week with a strong growth. We expect it to continue this upside tendency this week.
The Hourly chart shows the uptrend as the MA-channel goes upwards and the price is above the MA55. We advise to open long trades from the MA55 area.
GBP/USD had a growth after an unexpected strong UK construction PMI data. Experts forecasted a great decline. This data may have a significant impact on the Bank of England decision on Thursday during meetings. This Body is expected to cut rates. The situation is still unclear and we advise to avoid trading on the eve of the Bank of England meetings.
There is the downtrend on the Weekly chart as the price is below the MA55. GBP/USD may do some attempts to grow after weak Fridays US Labor Market data.
We still see the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. We advise to avoid trading at the moment as tomorrow the Bank of England is to take an important decision.
AUD/USD declined for 500 points after the decision of the Reserve Bank of Australia to cut rates. However, the currency pair gained back its lost positions and went on to grow. The total amount of this rally was about 1000 points. We gave you advises to buy AUD/USD. Today the currency pair stopped to grow according to technical indicators.
There is the uptrend on the Weekly chart as the price is above the MA55. AUD/USD crossed the trendline and closed above it last week. We expect it to grow this week.
The trend is neutral on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. We advise to avoid trading.
USD/CHF traded with a decline after a weak Swiss data. Retail sales showed a large decline and PMI indicates a slowdown. There were some opportunities to enter short trades from the MA55, although the price was rather far from the curve. You may try short trades from the MA55 area today.
There is the downtrend on the Weekly chart as the price is below the MA55. USD/CHF ended last week in the negative zone and USD may continue to go down this week.
USD/CHF is in the downtrend on the Hourly chart as the MA-channel looks downwards and the price is below the MA55. We advise to open short trades from the curve.