EUR/USD made a trend reversal after the growth that we had seen previously. However, you could open long trades from the MA55 as the price rose up to 500 points. You could protect your positions as well and take some profit. During the American session, EUR/USD had a change in its trend. Today we advise to pay attention to the US data. The main event is the FOMC minutes.
The Weekly chart shows no trend as the price is close to the MA55. EUR/USD is back to the MA55 and the broken trendline. The downtrend may resume.
As for the Hourly chart, there is the downtrend here as the MA-channel goes downwards and the price is below the MA55. It is better to avoid trading at the moment as the price is close to the lower side of the MA-channel.
The breakthrough of the 1,3230/40 area was done a bit later than we expected. However, you could make some profit from this event. The target was twice larger than we had predicted previously (about 3000-4000 points).
The Weekly chart shows the downtrend as the price is below the MA55. GBP/USD continues to fall because of the results of the “Brexit” Referendum. The downtrend is confirmed.
The situation on the Hourly chart is the same. We can see the downtrend as the MA-channel looks downwards and the price is below the MA55. We advise to avoid trading today as GBP/USD left the MA-channel range.
The accelerated decline in Oil prices as well as the downtrend in correlated Currency pairs resulted in AUD/USD trend reversal. We haven’t seen a considerable growth after the end of the RBA meetings as well. You could try long trades. However, this attempt would not give you much profit.
The Weekly chart still shos the uptrend as the price is above the MA55. The weekly Doji had no effect as there was no decline in AUD/USD last week. We expect another test of the trendline this week.
The Hourly chart shos the downtrend as the price is below the MA55 and the MA-channel looks downwards. It is better to avoid trading at the moment as the price is close to the lower side of the MA-channel range.
There was no breakthrough of the trendline on the Hourly chart. However, USD/CHF had another test of this support. If you had an opportunity to open a position, you had to protect your position according to our yesterday’s recommendations. If you had no chance to sell, you had not lost anything.
There is the neutral trend on the Weekly chart as the price approached the MA55 curve. This week may clarify the situation and determine further trend.
There is the uptrend on the Hourly chart as the price is above the MA55 and the MA-channel looks upwards. You may try long trades, if the price goes down to the MA55.