EUR/USD is back to the MA55 and you may try short trades from this area. There was nothing new or interesting in FOMC minutes from the last Fed meeting. The market starts to consider tomorrow’s US labor market data (especially non-farms) in advance. Experts expect that the sharp slowdown in job creation last month was not a tendency.
There is the neutral trend on the Weekly chart as the price is close the MA55. EUR/USD is back to the MA55 and the broken trendline as we have previously mentioned it. There is a high probability of further downside move.
As for the Hourly chart, there is the downtrend here as the MA-channel goes downwards and the price is below the MA55. You may try short positions from the MA55 placing stops above this curve.
GBP/USD is still in the abnormal area to open any trade. We advise to avoid trading before the price goes back to the MA55 area.
There is the downtrend on the Weekly chart as the price is below the MA55. GBP/USD continues to decline because of the results of the “Brexit” Referendum confirming the downtrend.
The Hourly chart shows the downtrend as well as the MA-channel looks downwards and the price is below the MA55. We advise avoid trading today as the price is still outside the MA-channel.
The growth in Oil price allowed AUD/USD to make a trend reversal. The Currency pair won back lost ground. However, if we consider oil chart, we may see a pattern that may provoke downside tendency. This will result in some pressure on AUD/USD. Oil is considered as an indicator of strength or weakness of the commodity market.
There is still the uptrend on the Weekly chart as the price is above the MA55. The Doji on this timeframe made no influence on fluctuations as there was no downside moves last week. We expect another test of the trendline this week.
AS for the Hourly chart, we can state the downtrend here as the MA-channel looks downwards and the price is above the MA55. It is better to avoid trading at the moment as the situation is still controversial. There is a probability of downside moves.
USD/CHF went back to the MA55 yesterday in the evening. That is why we recommend opening long trades today. We expect that there may be a retest of the trendline on the Hourly chart. We advise to place stops below this line for this reason.
The Weekly chart shows no trend as the price is close to the MA55. This week will determine further trend direction.
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 USD/CHF goes to the MA55.