TriumphFX Intraday Forex Analysis – 1 Hour Charts – January 26, 2018


XAUUSD - 26.01.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 26.01.2018

As suggested in yesterday’s chart analysis, price reversed around the channel resistance area and then reversed around the channel support area. The AUDUSD continues to uptrend within a bullish channel. The moving averages are bullish and are widening, signalling that the upside momentum may continue. Buying opportunities could exist around the bullish moving averages, around the recent swing low at 0.8005 and around the channel support area. A move to the upside may stall or reverse around the recent swing high at 0.8105 and the channel resistance area.

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 advance GDP figure will be released at 1330 UTC today.

 

EURGBP – 1 Hour Chart

 

EURGBP - 26.01.2018

Price has been bullish and has retraced most of the recent bearish swing. The EURGBP has closed above the moving averages and the recent trend resistance area, suggesting that the current downtrend could becoming to an end. Long opportunities may exist around the moving averages, around the previous trend resistance area (as support) and around the recent low at 0.8695. A move to the upside could stall or reverse around the horizontal levels at 0.8790 and 0.8805.

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.

A UK preliminary GDP figure will be announced at 0930 UTC. This is followed by a Bank of England speech at 1400 UTC.

 

EURUSD – 1 Hour Chart

 

EURUSD - 26.01.2018

As suggested in yesterday’s chart analysis, the EURUSD has continued to be bullish and swing higher. Price has been 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 dynamic support of the moving averages and around the horizontal levels at 1.2370, 1.2305, 1.2285, 1.2215 and 1.2165. The EURUSD may be rejected or reverse around the recent swing high at 1.2505.

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 advance GDP figure will be released at 1330 UTC today.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 26.01.2018

The GBPUSD found support around the previous bullish channel resistance area and is now attempting a swing higher (as suggested in yesterday’s chart analysis). The moving averages are bullish and are widening, signalling that the current uptrend could continue. Buying opportunities may exist around the dynamic support of the moving averages, around the diagonal support area and around the recent low at 1.4110. The GBPUSD is looking a little over-extended, suggesting that price may soon start a retrace/correction move. The GBPUSD may reverse around the recent swing high at 1.4310.

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 UK preliminary GDP figure will be announced at 0930 UTC today. This is followed by a US advance GDP figure will be released at 1330 UTC. The Governor of the Bank of England will speak at 1400 UTC.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 26.01.2018

Price has been bearish and is now looking indecisive. The moving averages confirm the current indecision – they are tightening and are moving sideways. Trading opportunities could exist around any of the identified horizontal levels at 0.7220, 0.7235, 0.7270, 0.7290, 0.7385 and 0.7430.

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 advance GDP figure will be released at 1330 UTC today.

 

USDCAD – 1 Hour Chart

 

USDCAD - 26.01.2018

As suggested in yesterday’s chart analysis, price reversed around the previous consolidation support area at 1.2385. The USDCAD is still below the recent consolidation area and the moving averages are bearish and are widening, all suggesting that price could start down-trending. Selling opportunities may exist around the dynamic resistance of the moving averages and around the previous consolidation support at 1.2385. An attempt to swing low could stall or reverse around the recent swing low at 1.2285.

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 advance GDP figure will be released at 1330 UTC today. A Canadian CPI figure will be announced at the same time.

 

USDCHF – 1 Hour Chart

 

USDCHF - 26.01.2018

The USDCHF has been bearish and has formed a clear swing low at 0.9315. Price is down-trending. The moving averages are bearish and are widening, signalling that the current downside momentum may continue. Shorting opportunities could exist around the horizontal level at 0.9435 and around the dynamic resistance of the moving averages. The USDCHF may be rejected or reverse around the recent swing low at 0.9315.

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 advance GDP figure will be released at 1330 UTC today.

 

USDJPY – 1 Hour Chart

 

USDJPY - 26.01.2018

As suggested in yesterday’s chart analysis, the USDJPY has been bearish and has formed a clear swing low at 108.55. Price is down-trending. The moving averages are bearish and are widening, signalling that the downtrend could continue. Opportunities to go short may exist around the horizontal level at 109.70 and around the dynamic resistance of the moving averages. The USDJPY could be rejected or reverse around the recent swing low at 108.55. A move to the upside could find resistance around the horizontal levels at 110.30, 110.50, 111.15 and 111.45.

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 advance GDP figure will be released at 1330 UTC today. The Governor of the Bank of Japan will speak at 1400 UTC.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 26.01.2018

As suggested in yesterday’s chart analysis, GOLD reversed around the 50.% Fib level, around the longer-term moving average and around the previous horizontal resistance at 1343.70. Price has been up-trending and is currently attempting a bullish move. The moving averages are bullish and are widening, signalling that GOLD may swing higher. Opportunities to go long could exist around the moving averages, around the horizontal level at 1343.70 and around the trend support area. A move to the upside may stall or reverse around the recent swing high at 1364.60.


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