TriumphFX Intraday Forex Analysis – 1 Hour Charts – January 18, 2018


NZDUSD - 18.01.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 18.01.2018

Price initially swung higher during yesterday’s trading session but the move has since reversed. The AUDUSD has become indecisive. The moving averages confirm this – they are tightening and are moving sideways. Price is ranging between the horizontal support at 0.7935 and the recent high at 0.8020. Trading opportunities could exist around the support and resistance areas of the range and if the AUDUSD moves out of the range (break-out trade). If price breaks to the downside, the AUDUSD may find support around the horizontal levels at 0.7895 and 0.7805.

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.

A US building permits figure will be announced at 1330 UTC today. This is followed by US crude oil inventories at 1600 UTC.

 

EURGBP – 1 Hour Chart

 

EURGBP - 18.01.2018

As suggested in yesterday’s chart analysis, price has found support around the horizontal level at 0.8810. The EURGBP has been bearish but is still indecisive and moving within the consolidation area. The moving averages have been crossing frequently – confirming the current indecision. Trading opportunities may exist around the horizontal levels at 0.8810, 0.8845 and 0.8860. If price moves below the horizontal support at 0.8810, the EURGBP could attempt a bearish move lower.

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 - 18.01.2018

The EURUSD has closed below the recent range support area. As suggested in yesterday’s chart analysis, the downside move quickly found support and price has been bullish. The moving averages are tightening and are likely to cross bearish, signalling that the EURUSD may attempt a move lower. Price is also below the moving averages and below the recent range – strengthening this analysis. Shorting opportunities could exist around the previous range support area at 1.2205, around the moving averages, around the diagonal resistance and around the recent high at 1.2305.

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.

A US building permits figure will be announced at 1330 UTC today. This is followed by US crude oil inventories at 1600 UTC.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 18.01.2018

As suggested in yesterday’s chart analysis, the GBPUSD closed above the range resistance area and then formed a bullish move higher. Price is clearly up-trending. The moving averages are bullish and are steady, suggesting that the uptrend could continue. Opportunities to go long may exist around the dynamic support of the moving averages and around the horizontal support at 1.3745. A move to the upside could stall or reverse around the recent swing high at 1.3920.

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.

A US building permits figure will be announced at 1330 UTC today. This is followed by US crude oil inventories at 1600 UTC.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 18.01.2018

Price was bullish during yesterday’s trading sessions and has formed a swing higher. The NZDUSD continues to uptrend. Price action has formed a bullish channel. Buying opportunities could exist around the channel support area and around the horizontal support at 0.7235. The moving averages are moving sideways and are tight, signalling market indecision. A move to the upside may be rejected or reverse around the channel resistance area and around the swing high at 0.7330. A move to the downside may be rejected or reverse around the horizontal levels at 0.7220, 0.7210, 0.7185 and 0.7140.

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.

A US building permits figure will be announced at 1330 UTC today. This is followed by US crude oil inventories at 1600 UTC.

 

USDCAD – 1 Hour Chart

 

USDCAD - 18.01.2018

As suggested in yesterday’s chart analysis, price has reversed around the range support area and continues to be indecisive. The moving averages have been crossing frequently and are moving sideways – confirming the market indecision. Price action has formed a large horizontal channel at 1.2370-1.2580 and also a tighter horizontal channel at 1.2370-1.2465. Trading opportunities may exist around the support and resistance areas of the both ranges and if the USDCAD moves out of either range (break-out trades).

The Bank of Canada recently raised rates to 1.25%. 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.

A US building permits figure will be announced at 1330 UTC today. This is followed by US crude oil inventories at 1600 UTC.

 

USDCHF – 1 Hour Chart

 

USDCHF - 18.01.2018

The USDCHF attempted to swing lower but reversed around the recent lows at 0.9580 (as suggested in yesterday’s chart analysis). Price is now ranging between the lows at 0.9580 and the horizontal resistance at 0.9665. The moving averages are tightening and are starting to move sideways – confirming the market indecision. Trading opportunities may exist around the support and resistance areas of the range and if the USDCHF closes out of the range (break-out trade). If price breaks to the upside. the USDCHF could stall or reverse around the previous horizontal support levels at 0.9705 and 0.9740.

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.

A US building permits figure will be announced at 1330 UTC today. This is followed by US crude oil inventories at 1600 UTC.

 

USDJPY – 1 Hour Chart

 

USDJPY - 18.01.2018

As suggested in yesterday’s chart analysis, the USDJPY moved above the range resistance area and has since been bullish. Price is now formed a higher swing high and the moving averages are about to cross bullish, all signalling that the USDJPY may start up-trending. Buying opportunities could exist around the previous range resistance at 110.95, around the trend support area and around the dynamic support of the moving averages. A move to the upside may be rejected or reverse around the horizontal levels at 111.65, 111.80 and 112.10.

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.

A US building permits figure will be announced at 1330 UTC today. This is followed by US crude oil inventories at 1600 UTC.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 18.01.2018

GOLD broke to the downside of the recent range and has found support around the previous horizontal resistance at 1324.50 (as suggested in yesterday’s chart analysis). Price is in-between a number of horizontal levels and the moving averages are moving sideways, all suggesting that GOLD has become indecisive. Trading opportunities may exist around the horizontal levels at 1306.55, 1309.50, 1324.50, 1332.35 and 1343.75.


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