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


 

AUDUSD – 1 Hour Chart

 

AUDUSD - 12.02.2018

The AUDUSD has been down-trending but is now ranging between the recent low at 0.7770 and the horizontal level at 0.7835. The moving averages confirm the current lack of trend momentum – they are starting to tighten and move sideways. Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). If the AUDUSD breaks to the upside, price could stall or reverse around the horizontal levels at 0.7905, 0.7950 and 0.7995.

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 - 12.02.2018

Price continues to be indecisive and move between a number of horizontal levels. The moving averages have been crossing frequently and are moving sideways – confirming the current indecision. Trading opportunities could exist around the horizontal levels at 0.8910, 0.8895, 0.8745. 0.8720 and 0.8695.

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 during today’s trading sessions that will directly impact this pair.

 

EURUSD – 1 Hour Chart

 

EURUSD - 12.02.2018

The EURUSD has become bullish and is attempting to move above the trend resistance area and the bearish moving averages. Price is above the recent horizontal channel resistance area and the bearish moving averages are starting to tighten, all suggesting that the EURUSD could continue to be bullish. Buying opportunities may exist around the previous horizontal channel resistance area at 1.2285, around the previous trend resistance area (as support) and around the moving averages. A move to the upside could be rejected or reverse 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 - 12.02.2018

As suggested in Friday’s chart analysis, the GBPUSD closed below the range support area and then continued to close lower. Price is now retracing some of the recent bearish move. The moving averages are slightly bearish but mostly moving sideways, signalling that the GBPUSD may attempt a bearish move lower or start ranging again. Selling opportunities could exist around the dynamic resistance of the moving averages, around any of the key Fib levels and around the horizontal resistance at 1.4040. An attempt to move lower may be rejected or reverse around the recent swing low at 1.3780.

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.

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

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 12.02.2018

Price initially found resistance around the previous swing low at 0.7255 (as suggested in Friday’s chart analysis) but has since moved above the potential selling area and retrace. The NZDUSD is down-trending. Price is currently in a retrace phase. Opportunities to go short may exist around the trend resistance area and around the 61.8% Fib level. The moving averages are tightening and becoming more bullish, signalling that a move to the downside could fail. Buying opportunities may exist around the horizontal support levels at 0.7205 and 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 - 12.02.2018

As suggested in Friday’s chart analysis, price continued to be bullish and uptrend. The USDCAD is now ranging between the horizontal support at 1.2550 and the recent swing high at 1.2625. The moving averages confirm the current indecision – they are tightening and are moving sideways. Trading opportunities could exist around the support and resistance areas of the horizontal channel and if price moves out of the channel (break-out trade). If the USDCAD breaks to the downside, price may stall or reverse around the horizontal levels at 1.2490, 1.2390 and 1.2380.

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.

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

 

USDCHF – 1 Hour Chart

 

USDCHF - 12.02.2018

The USDCHF found resistance and then reversed around the previous trend support area (as suggested in Friday’s chart analysis). Price continues to be indecisive. The moving averages confirm the market indecision – they are tightening and are moving sideways. Trading opportunities may exist around the identified diagonal level and around the horizontal levels at 0.9255, 0.9345 and 0.9465.

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 - 12.02.2018

As suggested in Friday’s chart analysis, the USDJPY broke to the downside of the horizontal channel but quickly reversed around the identified lows at 108.30. Price continues to be choppy and indecisive but price action has formed a bearish channel and the moving averages are bearish and steady, signalling that the USDJPY may start down-trending. Shorting opportunities could exist around the dynamic resistance of the moving averages, around the horizontal resistance at 109.25 and around the bearish channel resistance area. A move to the downside may be rejected or reverse around the horizontal support at 108.30 and around the bearish channel support area.

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 - 12.02.2018

GOLD has been bullish. Price action has formed a tight bullish channel. The overall trend is down though. Trading opportunities may exist around the support and resistance areas of the bullish channel. If price breaks to the downside of the channel, GOLD could attempt a bearish move lower and continue to downtrend. Trading opportunities may also exist around the 50.0% and 61.8% Fib levels and around the horizontal support levels at 1312.60 and 1310.05.