Intraday Forex Analysis – 1 Hour Charts – June 30, 2016


AUDUSD – 1 Hour Charts

AUDUSD 30.06.2016

As mentioned in yesterday’s chart analysis, the AUDUSD is currently looking choppy and indecisive. The moving averages are providing no clear direction but they have just crossed bullish, so price could be bullish in today’s trading sessions. There may be buying or selling opportunities if price tests the support area around 0.7300-0.7330.

Due to the UK leaving the EU, the USD has strengthened. As economic uncertainty continues, traders and investors could continue to buy safe heaven financial assets like the Japanese Yen, the US Dollar and GOLD – possibly causing the AUDUSD to move lower. US unemployment claims is set to be released at 1230 UTC. This event may cause volatility and move price. Traders and investors are not optimistic that the US will raise interest rates again this year (some economists even predicting a cut). If a string of positive US economic news is released, we could see the USD strengthen greatly, as a rate hike will become a lot more likely.

EURGBP – 1 Hour Chart

EURGBP 30.06.2016

The EURGBP has been retracing after a major swing higher. The bullish moving averages are tightening, suggesting that the retracement may continue. Price has formed a clear trend resistance line (currently sitting at 0.8280). This may provide some selling opportunities. There is horizontal support at 0.8205. This may be a reversal area for price.

Due to the UK leaving the EU, there has been a strong GBP sell-off. The EUR has also been weakening and there is currently a lot of uncertainty over the future of the Euro and Sterling – both currencies are weak, creating a possible hesitant currency pair. UK Current Account and Final GDP figures are set to released at 0830 UTC today. There is also a BOE speech at 1500 UTC. If negative figures are released for the UK, we could see a strong Sterling sell-off – negative news could build confidence in the possibility of the UK entering recession.

EURUSD – 1 Hour Chart

EURUSD 30.06.2016

The EURUSD is currently looking choppy and indecisive (as suggested in yesterday’s chart analysis). The moving averages are providing no clear direction but they have just crossed bullish, so price could be bullish in today’s trading sessions. Price has formed a potential trend support line (currently sitting at 1.1020). If price reaches this area, they may be some buying opportunities.

Due to the UK leaving the EU, the USD has strengthened. As economic uncertainty continues, traders and investors could continue to buy safe heaven financial assets like the Japanese Yen, the US Dollar and GOLD – possibly causing the EURUSD to move lower. US unemployment claims is set to be released at 1230 UTC. This event may cause volatility and move price. Traders and investors are not optimistic that the US will raise interest rates again this year (some economists even predicting a cut). If a string of positive US economic news is released, we could see the USD strengthen greatly, as a rate hike will become a lot more likely.

GBPUSD – 1 Hour Chart

GBPUSD 30.06.2016

The GBPUSD is currently retracing after a major move lower. If the retracement is going to continue, there could be buying opportunities at the trend support currently being tested by price. If price closes below the trend support line area, we could see price move lower and attempt a new swing low. The bearish moving averages have been tightening but have been opening slightly the last few hours, suggesting that a downside move may be more likely.

Due to the UK leaving the EU, there has been a strong GBP sell-off. The EUR has also been weakening and there is currently a lot of uncertainty over the future of the Euro and Sterling – both currencies are weak, creating a possible hesitant currency pair. UK Current Account and Final GDP figures are set to released at 0830 UTC today. There is also a BOE speech at 1500 UTC. If negative figures are released for the UK, we could see a strong Sterling sell-off – negative news could build confidence in the possibility of the UK entering recession.

NZDUSD – 1 Hour Chart

NZDUSD 30.06.2016

As mentioned in yesterday’s chart analysis, the NZDUSD is currently looking choppy and indecisive. The moving averages are providing no clear direction but they have just crossed bullish, so price could be bullish in today’s trading sessions. Price is forming a potential tightening triangle pattern. Price could consolidate between triangle support and resistance.

Due to the UK leaving the EU, the USD has strengthened. As economic uncertainty continues, traders and investors could continue to buy safe heaven financial assets like the Japanese Yen, the US Dollar and GOLD – possibly causing the NZDUSD to move lower. US unemployment claims is set to be released at 1230 UTC. This event may cause volatility and move price. Traders and investors are not optimistic that the US will raise interest rates again this year (some economists even predicting a cut). If a string of positive US economic news is released, we could see the USD strengthen greatly, as a rate hike will become a lot more likely.

USDCAD – 1 Hour Chart

USDCAD 30.06.2016

Just as a lot of USD pairs are looking choppy and indecisive, the USDCAD is no different. The moving averages are providing no clear direction but they have crossed bearish, suggesting that we could see a bearish move in today’s trading sessions. There is a longer-term upwards channel but it is unlikely that price will reach the channel support or resistance in today’s trading.

Due to the UK leaving the EU, the USD has strengthened. As economic uncertainty continues, traders and investors are likely to carry on buying safe heaven assets like the Japanese Yen, the US Dollar and GOLD. This could help the USDCAD move higher over coming days and weeks. If the OIL markets appreciate though, we could see the CAD strengthen. This may cause a slightly hesitant and indecisive USDCAD. US unemployment claims is set to be released at 1230 UTC. This event may cause volatility and move price. Traders and investors are not optimistic that the US will raise interest rates again this year (some economists even predicting a cut). If a string of positive US economic news is released, we could see the USD strengthen greatly, as a rate hike will become a lot more likely. Canadian GDP is set to be released at 1230 UTC today.

USDCHF – 1 Hour Chart

USDCHF 30.06.2016

As suggested in yesterday’s chart analysis, the USDCHF is looking over-extended and was slightly bearish in yesterday’s trading session. Price is still looking over-extended. The bullish moving averages are tightening, suggesting that a bearish move is becoming more likely. There are currently very little technical trade entry points on USDCHF. There could be selling opportunity if price closes below the shorter-term moving average.

Due to the UK leaving the EU, the USD has strengthened. As economic uncertainty continues, traders and investors could continue to buy safe heaven financial assets like the Japanese Yen, the US Dollar and GOLD – possibly causing the USDCHF to move higher. US unemployment claims is set to be released at 1230 UTC. This event may cause volatility and move price. Traders and investors are not optimistic that the US will raise interest rates again this year (some economists even predicting a cut). If a string of positive US economic news is released, we could see the USD strengthen greatly, as a rate hike will become a lot more likely.

USDJPY – 1 Hour Chart

USDJPY 30.06.2016

The USDJPY continues to edge higher and has found continuous support at the bullish trend line. The moving averages have crossed bullish, suggesting that price could continue it’s move higher. Buying opportunities could exist around the trend support line and around the moving averages. Price could possibly reverse or stall at the previous horizontal support (now resistance) at 103.70. If the resistance does not hold, we could see the EU referendum impact be reversed.

Due to the UK leaving the EU, the JPY has strengthened. As economic uncertainty continues, traders and investors are likely to carry on buying safe heaven assets like the Japanese Yen, the US Dollar and GOLD. This could cause some hesitation and indecision on the USDJPY, as the USD and JPY is being bought. US unemployment claims is set to be released at 1230 UTC. This event may cause volatility and move price. Traders and investors are not optimistic that the US will raise interest rates again this year (some economists even predicting a cut). If a string of positive US economic news is released, we could see the USD strengthen greatly, as a rate hike will become a lot more likely.

XAUUSD – 1 Hour Chart

XAUUSD 30.06.2016

As predicted in yesterday’s Chart analysis, GOLD reached the channel resistance and has moved lower. The moving averages have crossed bearish, suggesting that price could move lower in today’s trading. Price may reverse or stall around the horizontal support at 1307.

Due to the UK leaving the EU, the markets are very uncertain. As economic uncertainty continues, traders and investors are likely to carry on buying safe heaven assets like the Japanese Yen, the US Dollar and GOLD. This may help GOLD continue to move higher.