TriumphFX Intraday Forex Analysis – 1 Hour Charts – January 12, 2018


NZDUSD - 12.01.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 12.01.2018

As suggested in yesterday’s chart analysis, price moved above the horizontal channel resistance area and has since been bullish. The AUDUSD is above the recent consolidation area and the moving averages are bullish and are widening, signalling that price may start up-trending again. Buying opportunities could exist around the previous horizontal channel resistance area at 0.7875, around the dynamic support of the moving averages and around any of the key Fib levels.

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.

US CPI and retails sales figures will be released at 1330 UTC today.

 

EURGBP – 1 Hour Chart

 

EURGBP - 12.01.2018

Price has been bullish but continues to be indecisive. The EURGBP is moving between a number of horizontal levels. The moving averages have been crossing frequently – confirming the current indecision. Trading opportunities may exist around the moving averages and around the horizontal levels at 0.8810, 0.8835, 0.8870, 0.8905 and 0.8920.

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. If Catalonia independence becomes more likely, the euro could weaken.

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

 

EURUSD – 1 Hour Chart

 

EURUSD - 12.01.2018

The EURUSD has been bullish. Price is looking indecisive. The moving averages confirm this – they have been crossing frequently and are moving sideways. Trading opportunities could exist around the horizontal levels at 1.1830, 1.1880, 1.1915, 1.2005 and 1.2080. If the EURUSD closed above the horizontal resistance at 1.2080, price may attempt a bullish move higher.

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. If Catalonia independence becomes more likely, the euro could weaken.

US CPI and retails sales figures will be released at 1330 UTC today.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 12.01.2018

As suggested in yesterday’s chart analysis, the GBPUSD reversed around the bearish channel support area. Price has since been bullish and is now looking indecisive. The moving averages are tightening and are moving sideways – confirming the market indecision. Trading opportunities may exist around the horizontal levels at 1.3460, 1.3560, 1.3580 and 1.3605 and around the support and resistance areas of the previous bearish channel.

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.

US CPI and retails sales figures will be released at 1330 UTC today.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 12.01.2018

Price has been bullish (as suggested in yesterday’s chart analysis). The NZDUSD has swung above the recent bullish channel. Price is clearly up-trending. The moving averages are bullish and are widening, signalling that the uptrend may continue. Opportunities to go long could exist around the previous bullish channel resistance area (as support), around the horizontal levels at 0.7215, 0.7185 and 0.7140 and around the dynamic support of the moving averages. A bullish move may be rejected or reverse around the recent swing high at 0.7270.

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.

US CPI and retails sales figures will be released at 1330 UTC today.

 

USDCAD – 1 Hour Chart

 

USDCAD - 12.01.2018

The USDCAD has formed a new swing high at 1.2580 and is currently in a retrace/correction phase. The moving averages are bullish and are widening, suggesting that price could attempt a bullish move higher. Buying opportunities may exist around the moving averages and around the trend support area. The USDCAD could become indecisive and start ranging between the recent lows at 1.2370 and the horizontal resistance at 1.2580.

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.

US CPI and retails sales figures will be released at 1330 UTC today.

 

USDCHF – 1 Hour Chart

 

USDCHF - 12.01.2018

Price has been bearish and has moved below the recent trend support area. The USDCHF is now choppy and indecisive. The moving averages are moving sideways – confirming the market indecision. Trading opportunities could exist around the horizontal levels at 0.9710, 0.9735, 0.9810 and 0.9840, around the previous trend support area (as resistance) and around the moving averages.

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.

US CPI and retails sales figures will be released at 1330 UTC today.

 

USDJPY – 1 Hour Chart

 

USDJPY - 12.01.2018

As suggested in yesterday’s chart analysis, price has been bearish and has swung lower. The USDJPY is down-trending. The moving averages are bearish and are widening, signalling that the selling momentum could continue. Shorting opportunities may exist around the horizontal levels at 111.35, 111.80 and 112.10 and around the dynamic resistance of the moving averages. A move to the downside could stall or reverse around the recent swing low at 111.05.

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.

US CPI and retails sales figures will be released at 1330 UTC today.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 12.01.2018

GOLD closed above the range resistance area and has since been bullish (as suggested in yesterday’s chart analysis). Price is above the recent consolidation area and the moving averages have crossed bullish, all signalling that GOLD may start up-trending again. Opportunities to go long could exist around the previous range resistance area at 1324.50, around the bullish moving averages and around the trend support area.


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