TriumphFX Intraday Forex Analysis – 1 Hour Charts – September 25, 2017


 

AUDUSD – 1 Hour Chart

 

AUDUSD - 25.09.2017

The AUDUSD continues to be indecisive and move between horizontal support and resistance levels. The moving averages confirm the current indecision – they have been crossing frequently and are moving sideways. Trading opportunities may exist around the horizontal levels at 0.7915, 0.8080 and 0.8120 and around the diagonal resistance area. If price moves below the horizontal support at 0.7915, the AUDUSD could start trending lower.

The Reserve Bank of Australia (RBA) recently decided to hold rates at 1.50%. The Australian Dollar continues to be attractive to currency investors due to the yield on carry trades. Recent Monetary Policy Minutes have detailed that the Australian economy is improving. The US Federal Reserve have kept rates at 1.25% but expect to hike rates by the end of the calendar year. This is giving strength to the US Dollar. If political uncertainties intensify in the US or if tensions between the US and North Korea escalate, the US Dollar could weaken.

There is no major scheduled news today that will directly impact this currency pair.

 

EURGBP – 1 Hour Chart

 

EURGBP - 25.09.2017

As suggested in Friday’s chart analysis, the EURGBP has moved off the horizontal channel support area and continues to move within the horizontal channel at 0.8780-0.8900. The moving averages have been providing no clear trend direction and have been crossing frequently – confirming the market indecision. Trading opportunities could exist around the support and resistance areas of the horizontal channel and if price moves out of the channel (break-out trade). If the EURGBP breaks to the upside, price may stall or reverse around the horizontal levels at 0.8990 and 0.9040.

The UK has started negotiations for leaving the European Union. Brexit and political uncertain in the UK are causing weakness in sterling. Recent economic indicators for the UK have been positive. The Bank of England have an increased favour for increasing interest rates – creating more optimism and strength for the GBP. The ECB have announced that the economic future of the Euro-zone is looking more stable and that deflation and economic slow-down is low-risk. This has caused added strength for the Euro. Recent comments by the ECB have been fairly dovish though.

The President of the European Central Bank (ECB) will speak at 1300 UTC today.

 

EURUSD – 1 Hour Chart

 

EURUSD - 25.09.2017

Price has reversed around the symmetrical triangle support and resistance areas (as suggested in Friday’s chart analysis). The EURUSD continues to be indecisive and consolidate within a symmetrical triangle pattern and a horizontal channel at 1.1870-1.2020. The moving averages confirm the current market indecision – they have been crossing frequently and are moving sideways. Trading opportunities may exist around the support and resistance areas of both consolidation patterns and if price moves out of either pattern (break-out trade).

The US Federal Reserve have kept rates at 1.25% but expect to hike rates by the end of the calendar year. This is giving strength to the US Dollar. If political uncertainties intensify in the US or if tensions between the US and North Korea escalate, the US Dollar could weaken. The ECB have announced that the economic future of the Euro-zone is looking more stable and that deflation and economic slow-down is low-risk. This has caused added strength for the Euro. Recent comments by the ECB have been fairly dovish though.

The President of the European Central Bank (ECB) will speak at 1300 UTC today.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 25.09.2017

As suggested in Friday’s chart analysis, price has been reversing off the support and resistance areas of the range. Just like many currency pairs, the GBPUSD continues to be indecisive. Price is ranging between the horizontal support at 1.3475 and the horizontal resistance at 1.3595. Trading opportunities could exist around the range support and resistance areas and if the GBPUSD moves out of the range (break-out trade). If price breaks to the downside, the GBPUSD may be rejected or reverse around the horizontal levels at 1.3320 and 1.3160. The moving averages are moving sideways and crossing frequently – confirming the current indecision.

The UK has started negotiations for leaving the European Union. Brexit and political uncertain in the UK are causing weakness in sterling. Recent economic indicators for the UK have been positive. The Bank of England have an increased favour for increasing interest rates – creating more optimism and strength for the GBP. The US Federal Reserve have kept rates at 1.25% but expect to hike rates by the end of the calendar year. This is giving strength to the US Dollar. If political uncertainties intensify in the US or if tensions between the US and North Korea escalate, the US Dollar could weaken.

There is no major scheduled news today that will directly impact this currency pair.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 25.09.2017

Just like many other currency pairs, the NZDUSD looks choppy and is indecisive. The moving averages confirm the indecision – they are crossing frequently and are moving sideways. Price may bounce or reverse around the horizontal levels at 0.7175, 0.7195, 0.7245, 0.7340 and 0.7405 – providing potential trading opportunities.

The Reserve Bank of New Zealand recently kept rates at 1.75% and announced that there will unlikely be a rate hike in the foreseeable future. The New Zealand Dollar continues to be attractive to currency investors due to the yield on carry trades. The US Federal Reserve have kept rates at 1.25% but expect to hike rates by the end of the calendar year. This is giving strength to the US Dollar. If political uncertainties intensify in the US or if tensions between the US and North Korea escalate, the US Dollar could weaken.

There is no major scheduled news today that will directly impact this currency pair.

 

USDCAD – 1 Hour Chart

 

USDCAD - 25.09.2017

The USDCAD has been clearly up-trending and has formed a bullish channel. The moving averages have been bullish but are currently tightening and are moving sideways, signalling that upside momentum could be weakening – price may attempt a bearish move during today’s trading sessions. There is still a possibility though that the USDCAD could continue to uptrend. Opportunities to go long could exist around the moving averages, around the bullish channel support areas (there are two) and around the horizontal levels at 1.2235 and 1.2215. A bullish move may stall or reverse around the horizontal resistance at 1.2365 and the channel resistance area.

The Bank of Canada have unexpectedly raised rates to 1.00%. This has caused the Canadian Dollar to strengthen. The US Federal Reserve have kept rates at 1.25% but expect to hike rates by the end of the calendar year. This is giving strength to the US Dollar. If political uncertainties intensify in the US or if tensions between the US and North Korea escalate, the US Dollar could weaken.

There is no major scheduled news today that will directly impact this currency pair.

 

USDCHF – 1 Hour Chart

 

USDCHF - 25.09.2017

As suggested in Friday’s chart analysis, price found support around the previous swing high and the shorter-term moving average and has been bullish but the USDCHF has not been able to form a swing higher. Price is ranging between the newly formed low at 0.9670 and the recent highs at 0.9740. Trading opportunities could exist around the range support and resistance areas and if the USDCHF moves out of the range (break-out trade). The moving averages are bullish and steady, suggesting that price may move higher. Buying opportunities may exist around the dynamic support of the moving averages, around the trend support area and around the previous resistance level at 0.9640.

The US Federal Reserve have kept rates at 1.25% but expect to hike rates by the end of the calendar year. This is giving strength to the US Dollar. If political uncertainties intensify in the US or if tensions between the US and North Korea escalate, the US Dollar could weaken. The Swiss National Bank recently decided to keep rates at -0.75%. The CHF is a safe-haven currency, which means it could strengthen if political uncertainty in the US or Europe intensify or if the possibility of war between the US and North Korea starts to solidify.

There is no major scheduled news today that will directly impact this currency pair.

 

USDJPY – 1 Hour Chart

 

USDJPY - 25.09.2017

Price is looking indecisive (as suggested in Friday’s chart analysis). The moving averages are tightening and are moving sideways – confirming the market indecision. Price action is forming a horizontal channel at 111.20-112.65. Trading opportunities could exist around the horizontal channel support and resistance areas and if the USDJPY moves out of the channel (break-out trade). Price found resistance around the previous trend support area (as suggested in Friday’s chart analysis). This may continue.

The Bank of Japan have kept interest rates at a low of -0.10%. The Yen is a safe-haven currency, which means it could strengthen if political uncertainty in the US or Europe intensify or if the possibility of war between the US and North Korea starts to solidify, though war between these 2 countries may have a negative impact on the JPY due to Japan’s geographical location and history with North Korea. The US Federal Reserve have kept rates at 1.25% but expect to hike rates by the end of the calendar year. This is giving strength to the US Dollar. If political uncertainties intensify in the US or if tensions between the US and North Korea escalate, the US Dollar could weaken.

There is no major scheduled news today that will directly impact this currency pair.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 25.09.2017

GOLD is down-trending within a bearish channel. Current price action is moving sideways – price is ranging between the horizontal levels at 1289.55-1297.80. Trading opportunities may exist around the range support and resistance areas and if GOLD moves out of the range (break-out trade). The moving averages are bearish and steady, signalling that the down-trend could continue. Selling opportunities could exist around the dynamic resistance of the moving averages, around the bearish channel resistance area and around the horizontal levels at 1305.50 and 1315.65. A bearish move may stall or reverse around the channel support area.