EUR/USD relaxed pressure and went down below the trendline, forming the false break. If the price goes back to the balance line of the MA55, there will be an opportunity to open long trades. However, in this case there will be the trendline on the way and the risk to stop there is high. Today’s main data which may influence the EUR/USD Currency pair is ZEW economic sentiment.
The Weekly chart shows the uptrend as the price is above the MA55. EUR/USD went down to the MA55 and the trendline and bounced from those levels, holding the upwards direction. We expect some price growth this week as the descending trendline is broken.
The Hourly chart shows the uptrend as well as the MA-channel moves upwards and the price is above the MA55. We recommend opening long trades from the MA55 area. It is better to protect your trades as soon as possible as there is the trendline close to that area and the price may bounce from it.
The GBP/USD Currency pair continues to grow. This rise may be called “madness” as the price is outside the MA-channel range. There are no recommendations in such a situation. The only thing we may advise is to be careful as the correction may start at any moment and be as sharp as the current tendency.
The Weekly chart shows the downtrend the price is below the MA55. The Currency pair tried once again to break the trend. It is possible in case if the Great Britain stays within the European Union.
The Hourly chart shows the uptrend as the MA-channel goes upwards and the price is above the MA55. It is dangerous to open long trades at the moment as the price is above the upper line of the channel.
The AUD/USD Currency pair continues its moderate growth which was influenced by the last RBA meetings. There was not a single word about further easing and this means that RBA is satisfied with the current situation. The price finds additional support in oil quotes growth.
The Weekly chart still indicates on the uptrend as the price is above the MA55. The fact that the MA55 holds the quotes from going down may result in further growth this week.
The Hourly chart shows the uptrend as the price is above the MA55 and the MA-channel looks upwards. The price left the triangle upwards that determines further direction for the nearest future.
The USD/CHF Currenct pair failed to break the trendline on the Hourly chart and the short trades were not executed as we had recommended previously. However, the price is still close to the area and today we expect another retest.
The Weekly chart shows the downtrend as the price is below the MA55. The price went down below the MA55 as we expected and we think that this downside tendency continues this week.
As for the Hourly chart, there is the downtrend as the price is below the MA55 and the Ma-channel looks downwards. Short trades are possible when the price breaks the trendline.