EUR / USD
For the first time in a long time, the euro demonstrates a downward trend against the US dollar. The past week led to a significant decline in the euro, within which the currency dropped below two important levels for itself at once: 1.1757 and 1.1697. If you look at the indicators, the histogram confirms the dominance of the downtrend and the rather strong pressure of the downtrend. It is characteristic that with a very strong fall, the oscillator is still not in the oversold zone, although it is close to it. In these conditions, the downward movement can be expected to continue, but the optimal buy point will be close to the last level.
GBP / USD
The British pound is in a sideways correction against the US dollar after a strong fall. It is characteristic that if you look at the indicators, then they all have an upward slope, which indicates the dominance of an upward trend. Nevertheless, if you look at the price chart, you should note the presence of a narrow side corridor with the boundaries of 1.2769 and 1.2667. The price continues to be within this corridor and you cannot trade while it is there. An upward contract can be opened only when the market consolidates above the designated range.
USD / JPY
The dollar demonstrated a fairly strong rally against the Japanese yen, as a result of which the price first fell sharply, but nevertheless rose strongly. As a result, the market is still within the broad sideways range that we have been talking about for over months. It is important to note the recent candles that indicate uncertainty as they form short-body candles with long shadows. Volatility has dropped to the limit. The current stage is not the best time to trade, however, there are 2 opportunities that may come and that can be applied in practice. The first possibility is if the market consolidates below the level of 105.170. In this case, it will be possible to trade down. The second case is if the market rises above 105,700 and above the moving averages. In this case, it will be possible to trade up.
AUD / USD
For this currency pair, for the first time in a very long time, an attempt has been formed to break the upward trend. The Australian dollar has depreciated very much against the American one; as part of the downward movement, the price turned out to be below both the trend line and the level of the moving averages. The fall turned out to be very strong and stopped near the important level of 0.7020. As part of a strong movement, the oscillators were in the oversold zone, and the histogram was at the minimum values for more than 3 months. The downward movement turned out to be very strong and the market may need a correction, but it is dangerous to trade. The only thing we can expect is that the price movement will take place within the 0.7110 and 0.7019 ranges for some time.
USD / CAD
The general dynamics of the last week for this currency pair turned out to be upward. The market managed to gain a foothold above a narrow price range, resulting in a strong upward movement. In fact, what we talked about in the previous weekly review came true. Now it should be noted that the price turned out to be above the level of 1.3334. The general trend for the currency pair remains upward. Therefore, given that the price is very close to the designated level, it is possible to open an increase contract.
USD / CHF
The dollar strengthened very well against the Swiss franc. The upward movement turned out to be very strong and impulsive. As a result, the histogram rose to its maximum value in more than 2 months, and the oscillator is still in the overbought area. The price itself is at a local maximum, which is a dangerous point for trading. Nevertheless, we can say that the market is likely to need a correction, which means there will be a movement down to the level of 0.9218. Trading is dangerous because we are working against the main trend.
USD / RUB
The dollar continues to grow against the Russian ruble, and the past week has led to what we expected: the level of 75.48 was broken upwards, followed by a fairly strong upward movement. It is characteristic that if you look at the indicators, they all do not refute the uptrend, but confirm, even though the market is at a local maximum. Therefore, we can expect continued growth and trade up. Nevertheless, to maximize profits, you can wait for a corrective movement, and only then open a deal.
Contrary to expectations, gold is showing a downward trend and last week made a fairly strong downward movement, dropping below the level of 1909.434. As part of this movement, the oscillator is already in the oversold area, and the histogram repeats the minimum value. In general, we can talk about attempts to dominate the downward trend, which means that you need to trade down. The market has already made a slight correction, so a trade can be opened here and now. If there is no desire to take risks, then you can wait for a deeper correction and only then enter.