EUR/USD declined on Friday in the last trading hours. We did no recommendations as we did not hope this may happen on Friday. However, we expect the EUR/USD may continue to decline this week after Friday’s fluctuations. EUR/USD shows the downtrend and you may try short trades.
There is the downtrend on the Weekly chart as the price is below the MA55. EUR/USD prepares to make another downside momentum. We expect this to happen during the week.
There is the downside tendency on the Hourly chart as well as the MA-channel goes downwards and the price is below the MA55. You may try short trades from the MA55 area.
GBP/USD growth was limited as it was nothing more than a simple correction. However, you could take some profit from it. The volatility is still high and we have to work in such conditions. The MA-channel is wide. Today there will be no important data from the United Kingdom. We expect moderate fluctuations during the next 24 hours.
The Weekly chart shows the downtrend as the price is below the MA55. The upside correction has come to the end.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is below the MA55. It is better avoid trading as the situations is not clear. Today’s dynamics may “repair” technical indicators.
We have seen a rebound back on Friday. All trades were closed by stops. This sharp jump off told us that the market is not ready to go on upwards. In addition, during American session AUD/USD had a sharp decline. We expect negative dynamics this week.
There is the uptrend on the Weekly chart as the price is above the MA55. AUD/USD declined in the final minutes on Friday and closed below the trendline, indicating the probable change in trend this week.
However, on the Hourly chart we may state the downtrend as the MA-channel looks downwards and the price is below the MA55. You may try short positions from the MA55 area.
USD/CHF resumed its growth. All short trades were unsuccessful. It is probable that the Currency pair continues to grow, although we still have no confirmation from technical indicators. There is no important data today and USD/CHF may show moderate fluctuations. However, technical indicators may change their positions.
There is the uptrend on the Weekly chart as the price is above the MA55. The upside tendency is still weak and requires confirmation.
As for the Hourly chart, we may see here the neutral trend as the MA-channel looks no direction and the price is above the MA55. It is better to avoid trading today.