EUR/USD broke through the trendline and the MA55. You may clearly see this situation on the Weekly chart. There is a trend reversal on the same timeframe. “Brexit” Referendum questions the future of the European Union at all. This may result in some pressure on EUR. The Currency pair has done a technical channel. It may fluctuate within this range during the week.
There is the downtrend on the Weekly chart as the price is below the MA55. The price fell down below the ascending trendline and closed there marking the breakthrough.
The Hourly chart shows the downtrend as the price is out the MA-channel and goes below the MA55. We recommend staying off the market today before the price enters back the channel.
There is still high volatility in GBP/USD. The market may stay turbulent for the whole current week. We are going to monitor the price and if the volatility calms and the indicators stabilise, there will be an opportunity to resume trading. At the moment the situation is still unfavorable for trading.
The Weekly chart shows the downtrend as the price is below the MA55. GBP/USD collapsed as the result of the “Brexit” Referendum votes, confirming the downtrend.
There is the downtrend on the Hourly chart as the price is out of the MA-channel and is below the MA55. We recommend staying off the market todays because of high volatility on the market.
The AUD/USD Currency pair reaction to the “Brexit” Referendum was soft. However, it is difficult to analyse it as the volatility is still too high. I think that the situation may stabilise by tomorrow morning. The fall of Oil price is also giving some pressure on the pair.
The Weekly chart shows the uptrend as the price is above the MA55. Quotes are still above the MA55 regardless the results of “Brexit” Referendum. However, we have a Doji pattern on the Weekly chart that may result in trend reversal this week.
The Hourly chart shows the downtrend as the price is below the MA55 and the MA-channel looks downwards. We recommend staying off the market today as the price is close to the lower side of the MA-channel. However, if quotes goes back to the MA55 area, you may try short trades.
USD/CHF is close to the upper side of the MA-channel and forms expanding formation. This pattern is not the best one to analyse and I prefer to skip it. USD/CHF has some growth prospects if we look at EUR/USD. However, I do not give any advice before the expanding model is done.
The Weekly chart shows no trend as the price is close to the MA55. There is a probability of trend reversal because of the results of the “Brexit” Referendum.
As for the Hourly chart, there is the uptrend here as the price is above the MA55 and the MA-channel looks upwards. I recommend staying off the market today as the price is close to the upper side of the MA-channel.