The price was unable to break the trendline on the Hourly chart which resulted in a reverse. EUR/USD lost some positions although positive ZEW data and Janet Yellen speech, unfavorable for USD. There was a false break of the descending trendline on the Weekly chart. However, the break through is still possible. This may occur later this week.
The Weekly chart shows the uptrend as the price is above the MA55. Quotes went down to the MA55 and the trendline but bounced from them, holding upwards mood.
The Hourly chart shows the downtrend as the MA-channel goes downwards and the price is close to the MA55. We recommend staying off the market as the Referendum on “Brexit” is coming.
GBP/USD stopped its growth yesterday and started a correction due ti the upcoming Referendum. It is better to avoid trading at the moment as there is a possibility of illogical fluctuations.
The Weekly chart shows the downtrend as the price is below the MA55. The currency pair tries to break the tendency. It is possible in case if the great Britain stays within the EU.
The Hourly chart shows the uptrend as the MA-channel goes upwards and the price is close to the MA55. We advise to avoid trading today as the Referendum is coming.
AUD/USD continues its moderate growth after a short correction to the MA55. There is still some potential to further rise that is why we expect the uptrend to go on. The oil prices rally offers additional support to AUD/USD.
The Weekly chart shows the uptrend as the price is above the MA55. AUD/USD holds above the MA55 and may continue to grow this week.
The Hourly chart shows the uptrend as the price goes above the MA55 and the MA-channel looks upwards. The bounce from the MA55 was already done and it is late to enter the market.
USD/CHF was unable again to break through the trendline on the Hourly chart showing the strength of this line. The expected break through may not occur at all. However, there are still hopes that USD/CHF will do this.
The Weekly chart shows the downtrend as the price is below the MA55. Quotes went down below the MA55 as we expected and we think that the price will go downwards this week.
There is the neutral trend on the Hourly chart as the price fluctuates around the MA and the MA-channel looks in no direction. You can try short trades after the trendline is broken.