EUR/USD declined ion Friday despite expectations of consolidation. USD growth was provoked by the FOMC members statements. Rates hike odds during September FOMC meetings have grown to 30% from 18% on Thursday. It is to mention that this week there are also some comments from the FOMC members that may influence markets fluctuations.
There is no trend on the Weekly chart as the price is close to the MA55 balance line. Attempts to grow towards 1,15000 failed for the moment as the price stopped at 1,13000. We expect EUR/USD to decline this week as fundamental factors have significant impact on markets presently.
There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. The risks of further decline are too high at the moment and there is an opportunity to open short trades from the MA55 balance line with stops above this curve. However, it is rather dangerous to sell as there is a high probability of upside correction.
The currency pair established a downtrend on Friday in the morning and we gave recommendations to open short trades. You had an opportunity to sell in the morning and get some profit. Today we see that the downtrend is in progress. We advise to open short trades from the MA55 balance line.
There is the downtrend on the Weekly chart as the price is below the MA55. The price is close to the previously expected 1,35000 level and reversed at the moment. We expect the currency pair to go dow towards 1,30000.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55. WE advise to open short trades from the MA55 area (or from the trendline). Place stops above the MA55 balance line.
AUD/USD’s decline had an acceleration on Friday. The currency pair failed to reach the balance line and there was no opportunity to open short trades. However, we can see that our expectations became true. AUD/USD is in a downtrend at the moment. The impact of USD on the currency pair is expected to be higher, than the influence of Australian data. The fact that the FOMC meetings take place the next week makes the currency pair vulnerable to all data and statements concerning USD.
There is still the uptrend on the Weekly chart as the price is above the MA55. There is a Doji pattern close to the trendline. It is a strong signal that the reverse is probable. Furter decline target at 0,71500 is far from the current price
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55. We advise to avoid trading today as the price is close to the lower side of the MA-channel. It is better to wait until the market is more stable.
USD/CHF made new weekly lows according to our expectations and then it had a sharp growth. The situation is similar to AUD/USD. The currency pair did not reach the balance line before decline and offered no opportunity to open short trade. The further growth on Friday’s evening was too sharp to sell and the price made a long way before. Today we expect the growth to continue.
There is no trend on the Weekly chart as the price is fluctuating around the MA55 balance line. There was a decline last week as we expected. There is a probability of some moderate growth in the next five days.
There is the uptrend on the Hourly chart as the MA-channel looks upwards and the price is above the MA55. We advise to open long trades from the MA55 balance line with stops below the curve.