TriumphFX Intraday Forex Analysis – 1 Hour Charts – December 15, 2017


 

AUDUSD – 1 Hour Chart

 

AUDUSD - 15.12.2017

As suggested in yesterday’s chart analysis, the AUDUSD has been bullish and is swinging higher. Price is still above the recent consolidation area and the moving averages are still bullish and are widening, signalling that the AUDUSD may start up-trending. Buying opportunities could exist around the previous consolidation resistance area at 0.7655 and around the dynamic support of the moving averages.

The Reserve Bank of Australia (RBA) recently held 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 and employment data strongly suggest that the Australian economy is improving. The US Federal Reserve recently raised rates to 1.50%. If political uncertainty intensifies in the US or between the US and it’s international relations, the USD may weaken.

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

 

EURGBP – 1 Hour Chart

 

EURGBP - 15.12.2017

The EURGBP has moved away from the range resistance area (as suggested in yesterday’s chart analysis). Price continues to look choppy and indecisive. The moving averages have been crossing frequently and are moving sideways – confirming the market indecision. The EURGBP is ranging between the recent low at 0.8695 and the horizontal resistance at 0.8840-0.8850. Trading opportunities may exist around the support and resistance areas of the range and if the EURGBP moves out of the range (break-out trade). Price could be rejected or reverse around the diagonal resistance area.

Recent economic indicators for the UK have been positive and Brexit negotiations seem to be progressing – giving strength to the GBP. The Bank of England recently increased the base interest rate by 0.25% but have no plans to increase rates again in the near future. 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.

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

 

EURUSD – 1 Hour Chart

 

EURUSD - 15.12.2017

Price action has formed a higher swing high but price is looking a little choppy and indecisive. The moving averages are bullish and are widening, suggesting that the EURUSD could attempt to swing higher and start up-trending. Long opportunities may exist around the moving averages and around the recent low at 1.1720. A bullish move could stall or reverse around the horizontal resistance levels at 1.1845, 1.1875 and 1.1930.

The US Federal Reserve recently raised rates to 1.50%. If political uncertainty intensifies in the US or between the US and it’s international relations, the USD may 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.

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

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 15.12.2017

As suggested in yesterday’s chart analysis, price is indecisive and is lacking trend momentum.  The moving averages confirm the current indecision – they have been crossing frequently. Trading opportunities could exist around the horizontal levels at 1.3220, 1.3305, 1.3405, 1.3455, 1.3515 and 1.3545.

Recent economic indicators for the UK have been positive and Brexit negotiations seem to be progressing – giving strength to the GBP. The Bank of England recently increased the base interest rate by 0.25% but have no plans to increase rates again in the near future. The US Federal Reserve recently raised rates to 1.50%. If political uncertainty intensifies in the US or between the US and it’s international relations, the USD may weaken.

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

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 15.12.2017

The NZDUSD reversed bullish around the 23.6% Fib level and the shorter-term moving average (as suggested in yesterday’s chart analysis). Price is now ranging between the horizontal support at 0.6975 and the recent highs at 0.7025. Trading opportunities may exist around the support and resistance areas of the range and if the NZDUSD moves out of the range (break-out trade). The moving averages are bullish and are steady, signalling that that price could break to the upside. If price breaks to the downside, buying opportunities may exist around the horizontal levels at 0.6955 and 0.6910.

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 recently raised rates to 1.50%. If political uncertainty intensifies in the US or between the US and it’s international relations, the USD may weaken.

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

 

USDCAD – 1 Hour Chart

 

USDCAD - 15.12.2017

The USDCAD has been bearish and has moved below some clear horizontal support areas. Price action has formed a short series of lower swing lows and lower swing highs and the moving averages are bearish and are widening, all suggesting that the USDCAD may move lower. Shorting opportunities could exist around the previous horizontal support levels at 1.2795 and 1.2820, around the dynamic resistance of the moving averages and around the trend resistance area. A move to the downside may find support around the recent low at 1.2640.

The Bank of Canada recently raised rates to 1.00%. The US Federal Reserve recently raised rates to 1.50%. If political uncertainty intensifies in the US or between the US and it’s international relations, the USD may weaken.

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

 

USDCHF – 1 Hour Chart

 

USDCHF - 15.12.2017

As suggested in yesterday’s chart analysis, price has reversed around the longer-term moving average. The moving averages are bearish and are steady, suggesting that the USDCHF could attempt a bearish move. Selling opportunities may exist around the dynamic resistance of the moving averages, around the trend resistance area and around he previous swing high at 0.9930. A bearish move could be rejected or reverse around the horizontal support at 0.9840.

The US Federal Reserve recently raised rates to 1.50%. If political uncertainty intensifies in the US or between the US and it’s international relations, the USD may weaken. The CHF is a safe-haven currency, which means it could strengthen if uncertainty in the US, the UK or Europe intensifies 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 - 15.12.2017

Price found resistance around the previous bullish channel support area and has since been bearish (as suggested in yesterday’s chart analysis). The USDJPY has been finding support around the 112.05 area (as also suggested). The moving averages are bearish and are widening, signalling that price may swing lower. Opportunities to go short could exist around the recent swing high at 112.80 and around the dynamic resistance of the moving averages. Price may continue to find support around the horizontal levels at 112.05 and 111.80.

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, the UK or Europe intensifies 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 recently raised rates to 1.50%. If political uncertainty intensifies in the US or between the US and it’s international relations, the USD may weaken.

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

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 15.12.2017

As suggested in yesterday’s chart analysis, GOLD has found support around the previous horizontal resistance at 1251.00. Price is retracing some of the recent bearish move. The moving averages have crossed bullish and are widening, signalling that GOLD could move higher. Buying opportunities may exist around the dynamic support of the moving averages and around the horizontal levels at 1251.00, 1245.95 and 1237.25. A move to the upside could stall or reverse around the horizontal levels at 1262.60 and 1271.35.

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