Forex trading! S: support.adamantfinance M: info@adamantfinace.com Registration
Analytics Technical analysis

Technical Outlook July 29, 2016

29 July 2016
EURUSD

29_07_2016_eur.jpg

EUR/USD is trading close to the upper side of the MA-channel offering no opportunities to open trades. However, the price may decline to the MA55 balance line today. You may try to “catch” it there. EUR/USD may even breakthrough the MA55 and go below it. In this case there is a probability of upside tendency. Today we recommend paying attention to the Eurozone and US data. The volatility may increase during the day.

The downtrend is still progressing on the Weekly chart as the price is below the MA55. FOMC members made unclear hints on the probable monetary policy tightening this year. We expect “bulls” to take advantage of the situation.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. We advise to open long trades from the MA55 if the price goes back to it.


GBPUSD

29_07_2016_gbp.jpg

GBP/USD went to the MA55 area and the broken through trendline on the Hourly chart yesterday. There were some opportunities to enter long trades. You could buy from 1,31400. The price passed about 700 points after a short correction. Today we advise to pay attention to the US data.

The downtrend is still progressing on the Weekly chart as the price is below the MA55. We expect some growth of GBP/USD after the results of the FOMC meetings.

The trend has already changed its direction on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. You may hold your long trades or reenter the market from the MA55.


AUDUSD

29_07_2016_aud.jpg

AUD/USD is trading in a wide range. However, if you tried to trade long, you could have some profit (about 400 points) as the price went up after some night correction. Today we recommend paying attention to the US data.

There is the uptrend on the Weekly chart as the price is above the MA55. We expect some price growth after the results of FOMC meetings.

There is the uptrend on the Hourly chart as the MA-channel looks upwards and the price is above the MA55. We advise to enter long trades from the MA55 if the price goes back to it.


USDCHF

29_07_2016_chf.jpg

USD/CHF confirmed a breakthrough of the trendline, although there was no opportunity to enter the market. The price is still too far from the balance line. Today the situation is still unclear as the price is close to the lower side of the MA-channel.

There is the uptrend on the Weekly chart as the price is above the MA55. USD/CHF may end this week in the negative area after the results of the FOMC meetings.

The downtrend is already in progress on the Hourly chart as the MA-channel looks downwards and the price is below the MA55. It is better to avoid trading today.

Back to analytics