The currency pair continued its upside tendency according to our expectations. EUR/USD held at the key 1,12000area with a small fake breakout. There was an opportunity to open a long trade and the price was in a profit area for about 400 pips. You had a chance to close you positions with profit. We expect the currency pair to go upwards this week. However, there is a large number of FOMC member’s speeches. Those event may break technical image. A trend line at 1,1250 is important for further grow. If the price breaks it through, the uptrend may continue.
There is no trend on the Weekly chart as the price is close to the MA55 balance line. USD is under some pressure after the FOMC Meeting. We expect the currency pair to grow moderately.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. You may try long trades from the MA55 balance line placing stops below the curve.
The currency pair had a considerable decline after the UK Minister’s of Foreign Affairs Boris Johnson comments on the initiation of Brexit in the beginning of 2017. Long trades failed to profit because of the decline as the currency pairs are to sensible to such statements. We expect USD to have significant fluctuations this week as some FOMC members are going to give their comments and probably some of them will be on the possibility interest rates hike in December.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair has an opportunity to grow this week according to technical analysis. However, Johnson’s comments still exert pressure on GBP.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to avoid trading GBP/USD at the moment.
The currency pair retreated from the trendline on the Weekly chart. AS we have previously noticed, Friday is not a good day to make any crucial decision. In additions, the volatility was weak and the price had no opportunity to go above the trendline. The currency pair may break through the trendline this week if there are no further obstacles. We advise to monitor the readiness of AUD/USD to go further upside today.
There is still the uptrend on the Weekly chart as the price is above the MA55. We expected the price to go down to 0,71500. However, this scenario is hard to be realized as the tendency still looks upwards. If the currency pair breaks through 0,76500, the price may go further upside.
There is no trend on the Hourly chart as the MA-channel is horizontal and the price is below the MA55 balance line. We advise to avoid trading today and wait for clearer signals.
The currency pair made an expected correction towards the broken through trendline. This correction was even deeper than we thought previously. If you had short trades, they should be closed by stop loss. However, we still believe that the downtrend is in progress and recommend opening short trades only.
There is no trend on the Weekly chart as the price is fluctuating around the MA55. The currency pair may continue its downside tendency after the FOMC Meeting.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. You may try short trades from the MA55 area. Place stops above the curve.