The currency pair crossed the trendline on the Hourly chart and showed its upside moods in the beginning of the current week. Yesterday’s German Ifo Business Climate data was better than expected as it reached 109,5 points against previous 106,3. This data had an impact on EUR/USD. There was an opportunity to buy from the MA55 balance line. You could take about 500 pips as profit in this case. We expect the currency pair to grow moderately today. However, you have to pay attention to ECB and FOMC members comments as they may change the situation.
There is no trend on the Weekly chart as the price is close to the MA55 balance line. FOMC Meeting last week resulted in no decision on interest rates hike and we expect the currency pair to grow moderately as USD is under pressure at the moment.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. You can try long trades from the MA55 area or from the broken through trendline. Place stops below the MA55 or trendline.
The currency pair is trying to slow down its decline and the pattern that we have seen yesterday, proves this fact. However, it is still too early to buy as the trend is still looking downwards and the situation may change at any moment. Today there is no important data from UK neither from the USA. If the currency pair breaks through 1,29900, the current trend will change.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There are some technical aspects that indicate on the probability of GBP/USD growth in the next couple of days.
The downtrend is in progress on the Hourly chart as the MA-channel goes downwards and the price is below the MA55. We advise to avoid trading and observe fluctuations looking for clearer signals.
The currency pair breaks through the trendline on the Weekly chart and opens a new page in its history. Everything is clear at the moment and this breakthrough looks to be true. You may try to open long trades from 0,76500. However, we are not sure that the trend is already established and this trade will be too risky.
There is still the uptrend on the Weekly chart as the price is above the MA55 balance line. The chances to decline towards 0,71500 are already very weak and if we have a true breakthrough of the trendline at 0,76500, the downside scenario will be changed.
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 try long trades. However, you are to remember that long positions are too risky at the moment as there is no clear confirmation of the breakthrough.
The currency pair approached the MA55 balance line yesterday in the morning allowing to open short trades. Then USD/CHF moved down for about 400 pips offering an opportunity to take profit. This week seems to be nervous due to the enormous number of FOMC representatives speeches and debates between Clinton and Trump. The currency pair breaks through the trendline on the Hourly chart and we advise to avoid trading at the moment.
There is no trend on the Weekly chart as the price is fluctuating around the MA55 balance line. USD/CHF may continue to decline after the FOMC Meetings that took place last week.
There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. We advise to observe fluctuations without taking any decision at the moment.