EUR/USD made a fake breakthrough of the trendline on the Hourly chart. If you tried to open short trades from this line, your stops should trigger. The stop was close to the opening level as it was placed above the trendline. The Currency pair tendency changes. It is better to wait until the last week’s high is crossed.
There is the downtrend on the Weekly chart as the price is below the MA55. EUR/USD resumed downside tendency according to classic technical analysis.
As for the Hourly chart, there is the uptrend here as the MA-channel goes upwards and the price is close to the MA55. We expect the downtrend to take place. You may try short trades from a new trendline on the Hourly chart. Stops should be established above this inclined resistance. You may also try long trades from the trendline from the MA55.
GBP/USD had a considerable growth yesterday. There are two main reasons for such a rally:
• a woman will be a new prime minister of the Great Britain;
• she takes office in the nearest future.
Market’s reaction on that news was positive and the pound won some positions from the USD.
There is the downtrend on the Weekly chart as the price is below the MA55. News on a new prime minister may provoke a large correction.
As for the Hourly chart, there is the uptrend here as the MA-channel goes upwards and the price is above the MA55. It is better to avoid trading as GBP/USD is close to the upper side of the MA-range.
AUD/USD broke through the trendline yesterday on the Weekly chart triggering stops above the trendline. There is a probability that aussie will try to target resistance at 0,78000. This level is very important.
There is the uptrend on the Weekly chart as the price is above the MA55. We expect that the growth may continue up to the trendline. When the price reaches 0,76000 it may bounce off it.
As for the Hourly chart, there is still the uptrend as the MA-channel looks upwards and the price is above the MA55. You may try long trades from the MA55 curve.
USD/CHF broke through the descending trendline on the Hourly chart. All our expectations became true. However, in the beginning of the European session, USD/CHF went down and resumed its growth later. If you tried to open long trades in the lowest point today, you could take about 700 points of profit.
There is the uptrend on the Weekly chart as the price is above the MA55. The upside tendency is still weak and requires confirmation.
There is the uptrend on the Hourly chart as well as the price is above the MA55 and the MA-channel looks upwards. We recommend opening long trades from the MA55, placing stops below the curve.