EUR/USD approaches the upper side of the marked channel. You may try to open short trades from there. MA-channel stabilises shocks caused by the results of the “Brexit” Referendum. The reaction for the revised US GDP data yesterday was adequate. We think that the market restores step-by-step and starts to react on news. Today we expect another set of important US data and we suggest to observe market’s reaction.
The Weekly chart shows the downtrend as the price is below the MA55. EUR/USD went down below the ascending trendline and closed within the area. There is a clear breakthrough.
The Hourly chart shows the downtrend as the MA-channel goes downwards although the price is above the MA55. There is an upside correction to the downtrend. We advise to wait until the price approaches to the upper side of the chanel to sell
We have seen a correction yesterday, but the volatility is too high still. It is too risky to open trades in such market conditions as you have to place stops far from current price. MA-channel tries to stabilise but it is still far from being normal.
The Weekly chart shows the downtrend as the price is below the MA55. “Cable” fell down because of the “Brexit” Referendum results. Presently, the downtrend is confirmed.
As for the Hourly chart we may see the downtrend here as well. The MA-channel goes downwards and the price is below the MA55. GBP/USD broke through the curve for a short period of time but went back again. We recommend staying off the market today.
You could use our yesterday’s recommendations and open short trades from the MA55. There were some moves down and you could protect your positions by placing stops at breakeven. You could also take a part of your profit. Short trades were closed in the morning at breakeven level. The price goes in range and may burst in the nearest future.
The Weekly chart shows the uptrend as the price is above the MA55. The price is still higher than the MA55 regardless the “Brexit” Referendum results. However, we have a Doji on the Weekly that may cause trend reversal this week.
Ass for the Hourly, there is still the downtrend here as the price is below the MA55 and the MA-channel looks downwards. AUD/USD is mostly below the MA55 and you may try short trades from this curve, upper side of the range or on lower fractal breakthrough (0,74400). In the last case you may count on downside move.
USD/CHF reacts well on US data and this is a good sign of recovery. However, the currency pair is still far from the MA55 you we do not recommend opening long trades at the moment. If you had an opportunity to buy, you had enough points to close your positions. Today’s US data may offer some more opportunities to make profit.
The Weekly chart shows no trend as the price is close to the MA55. There is a probability of some crucial changes in the market due to the results of the “Brexit” Referendum. The price may go upwards.
The Hourly chart still shows the uptrend as the price is above the MA55 and the MA-channel looks upwards. You may try long positions from the MA55 with low volume.