TriumphFX Intraday Forex Analysis – 1 Hour Charts – February 09, 2018


EURUSD - 09.02.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 09.02.2018

Price has continued to be bearish and is currently forming a swing lower. The AUDUSD is down-trending. The moving averages are bearish and are steady, suggesting that the downtrend may continue. Selling opportunities could exist around the dynamic resistance of the moving averages and around the horizontal levels at 0.7845, 0.7905 and 0.7950. A move lower may be rejected or reverse around the recent low at 0.7770 and the diagonal level.

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. The US Federal Reserve recently raised rates to 1.50%. Recent employment and other economic data for the US has been very positive. This suggests that there could be further rate hikes in the near future. This has given strength to the US Dollar.

There is no major scheduled news during today’s trading sessions that will directly impact this pair.

 

EURGBP – 1 Hour Chart

 

EURGBP - 09.02.2018

The EURGBP has been bearish and has now become indecisive. The moving averages confirm the indecision – they are moving sideways. Trading opportunities may exist around the moving averages and around the horizontal levels at 0.8695, 0.8720, 0.8740 and 0.8910.

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.

A UK manufacturing production figure will be announced at 0930 UTC today.

 

EURUSD – 1 Hour Chart

 

EURUSD - 09.02.2018

Price has become indecisive and is moving within a horizontal channel at 1.2230-1.2280. Trading opportunities could exist around the support and resistance areas of the horizontal channel and if the EURUSD moves out of the channel (break-out trade). The moving averages are bearish and are widening, signalling that price may move lower. If price breaks to the upside, shorting opportunities may exist around the dynamic resistance of the moving averages, around the trend resistance area and around the previous horizontal support at 1.2335.

The US Federal Reserve recently raised rates to 1.50%. Recent employment and other economic data for the US has been very positive. This suggests that there could be further rate hikes in the near future. This has given strength to the US Dollar. 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 during today’s trading sessions that will directly impact this pair.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 09.02.2018

As suggested in yesterday’s chart analysis, price was rejected and reversed around the 50.0% Fib level. The GBPUSD now looks indecisive and is ranging between the horizontal support at 1.3845 and the recent swing high at 1.4040. The moving averages are tightening and are moving sideways – confirming the current indecision. Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade).

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%. Recent employment and other economic data for the US has been very positive. This suggests that there could be further rate hikes in the near future. This has given strength to the US Dollar.

A UK manufacturing production figure will be announced at 0930 UTC today.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 09.02.2018

The NZDUSD is down-trending. Price is currently in a retrace phase. The moving averages are bearish and are widening, signalling that the NZDUSD may attempt a bearish move lower. Opportunities to go short could exist around the dynamic resistance of the moving averages, around the previous horizontal support levels at 0.7255 and 0.7280 and around the trend resistance area. A move to the downside may be rejected or reverse around the recent swing low at 0.7180.

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%. Recent employment and other economic data for the US has been very positive. This suggests that there could be further rate hikes in the near future. This has given strength to the US Dollar.

There is no major scheduled news during today’s trading sessions that will directly impact this pair.

 

USDCAD – 1 Hour Chart

 

USDCAD - 09.02.2018

As suggested in yesterday’s chart analysis, price found support around the horizontal level at 1.2555 and has since moved higher. The USDCAD is up-trending. The moving averages are bullish and are steady, suggesting that the uptrend could continue. Long opportunities may exist around the dynamic support of the moving averages and around the horizontal levels at 1.2555 and 1.2490.

The Bank of Canada recently raised rates to 1.25%. The US Federal Reserve recently raised rates to 1.50%. Recent employment and other economic data for the US has been very positive. This suggests that there could be further rate hikes in the near future. This has given strength to the US Dollar.

Canadian unemployment rate and employment change figures will be released at 1330 UTC today.

 

USDCHF – 1 Hour Chart

 

USDCHF - 09.02.2018

Price has been bearish and is now looking indecisive. The moving averages confirm the market indecision – they are tightening and are moving sideways. Trading opportunities could exist around the horizontal levels at 0.9255, 0.9345 and 0.9465, around the moving averages and around the previous trend support area (as resistance).

The US Federal Reserve recently raised rates to 1.50%. Recent employment and other economic data for the US has been very positive. This suggests that there could be further rate hikes in the near future. This has given strength to the US Dollar. 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 during today’s trading sessions that will directly impact this pair.

 

USDJPY – 1 Hour Chart

 

USDJPY - 09.02.2018

As suggested in yesterday’s chart analysis, the USDJPY has reversed around the horizontal support level at 108.50. Price continues to be indecisive. Price action has formed a horizontal channel at 108.50-109.75 and a tightening triangular pattern. Trading opportunities may exist around the support and resistance areas of both consolidation patterns and if the USDJPY closes out of either pattern (break-out trades). If price breaks to the upside, the USDJPY could be rejected or reverse around the horizontal resistance at 110.40.

The US Federal Reserve recently raised rates to 1.50%. Recent employment and other economic data for the US has been very positive. This suggests that there could be further rate hikes in the near future. This has given strength to the US Dollar. Due to the recent plunge in global stock markets, the Yen (safe haven currency) has seen added strength. If stock markets continue to be bearish, the Yen may continue to strength.

There is no major scheduled news during today’s trading sessions that will directly impact this pair.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 09.02.2018

GOLD is down-trending and is currently in a retrace phase. The moving averages are bearish and are widening, signalling that the downtrend may continue. Opportunities to go short could exist around the dynamic resistance of the moving averages and around the horizontal levels at 1321.65 and 1328.90. An attempt to swing low may stall or reverse around the recent swing low at 1310.05.


Warning: count(): Parameter must be an array or an object that implements Countable in C:\WebApps\analysis.tfxi.com\wp-includes\class-wp-comment-query.php on line 405