The currency pair attempts to grow on odds that European central Bank is going to close its QE programme on Spring. The ECB Steering Committee meeting is to take place today. We think that there is a probability of some important steps to be taken today. Anyway market players still believe in better days for EUR and this give some support to the currency pair. We expect the European Central Bank to hint on the probability of QE prolongation.
The currency pair is in the Downtrend on the Weekly chart as the price is below the MA55 balance line. There was no growth last week and after the release of the results of Italian Referendum, EUR/USD is unlikely to reach 1,08500. We think that the currency pair is going to decline in the nearest future.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We give no recommendations for today as it is better to wait for the results of the ECB meeting before taking any decisions. However, we think there will be some opportunities to sell in the nearest future.
The currency pair failed to reach the MA55 balance line and there was no opportunity to open short trades as the price was far from the area. You could sell at current prices but risks were too high. The currency pair goes towards the balance line and we think there will be some opportunities to open short trades during the day.
The currency pair is in the downtrend on the Weekly chart as the price is below the MA55 balance line. GBP/USD failed to reach 1,28000 level last week but it is still able to reach 1,28500 and then to go downwards according to our expectations.
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 open short trades from the MA55 balance line. Place stop losses above the curve.
The currency pair failed to continue its decline. If you had an opportunity to open short trades, you could have small losses. We think that the market reaction was weak as investors underestimate the influence of weak Australian GDP data. We also think that market participants still needs some other confirmations in order to extend the currency pair’s decline. It is better to avoid trading at the moment as the situation is unclear.
The currency pair is in the neutral trend on the Weekly chart as the price is close to the MA55 balance line. AUD/USD continues its upside correction but we think that it is going to decline towards 0,71800.
There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to take no decisions at the moment as the situation is unclear.
The currency pair made a sharp downside burst as we have expected as the uptrend is still unstable. Long trades were too risky, as we have noticed yesterday. USD/CHF is in the neutral positions again and we advise to monitor charts. If you want to open trades in the beginning of a new tendency, you may try to buy with high risks. Place stop losses below the low of the week.
The currency pair is in the uptrend on the Weekly chart as the price is fluctuating above the Ma55 balance line. USD/CHF failed to decline below the trendline on the Weekly chart and we expect the currency pair to grow towards 1,03000.
There is no trend on the Hourly chart as the MA-channel is in the neutral position and the price is below the MA55 balance line. We advise to avoid trading today as the situations Is still unclear.