TriumphFX Intraday Forex Analysis – 1 Hour Charts – February 14, 2018


USDJPY - 14.02.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 14.02.2018

As suggested in yesterday’s chart analysis, the AUDUSD found support around the previous range resistance area at 0.7835 and has since moved higher. Price continues to be bullish and retrace some of the recent sell-off. The moving averages are bullish and are widening, signalling that the AUDUSD may continue to move higher. Buying opportunities could exist around the dynamic support of the moving averages and around the horizontal level at 0.7835. A bullish move may 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.

US CPI and retail sales figures will be released at 1330 UTC today. This is followed by US crude oil inventories at 1530 UTC. Australian employment change and unemployment rate figures will be announced at 0030 UTC.

 

EURGBP – 1 Hour Chart

 

EURGBP - 14.02.2018

The EURGBP reversed around the horizontal resistance at 0.8910 (as suggested in yesterday’s chart analysis). Price has since been bullish though and is testing the horizontal resistance again. The EURGBP is indecisive. Trading opportunities may exist around the identified horizontal levels at 0.8850 and 0.8910 and around the diagonal support area. The moving averages are bullish, suggesting that price could attempt a bullish move higher.

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 - 14.02.2018

As suggested in yesterday’s chart analysis, price has been bullish and is forming a swing higher. The moving averages are bullish and are widening, signalling that the buying momentum may continue. If the EURUSD pulls-back, long opportunities could exist around the dynamic support of the moving averages, around the trend support area and around the previous horizontal resistance at 1.2290. A move to the upside may be rejected or reverse around the horizontal resistance levels at 1.2400, 1.2475 and 1.2515.

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.

US CPI and retail sales figures will be released at 1330 UTC today. This is followed by US crude oil inventories at 1530 UTC.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 14.02.2018

Price has been bullish and has moved above the moving averages. The moving averages are tightening and are moving sideways, suggesting market indecision. The GBPUSD is looking choppy and indecisive. Trading opportunities may exist around the moving averages, around the identified diagonal support area and around the horizontal levels at 1.3780, 1.3865 and 1.4040.

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.

US CPI and retail sales figures will be released at 1330 UTC today. This is followed by US crude oil inventories at 1530 UTC.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 14.02.2018

The NZDUSD has been bullish. Price is no longer down-trending but has become indecisive. Trading opportunities could exist around the diagonal support area, around the moving averages and around the horizontal levels at 0.7230, 0.7345 and 0.7400. The moving averages are bullish, suggesting that the NZDUSD may attempt a swing higher.

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.

US CPI and retail sales figures will be released at 1330 UTC today. This is followed by US crude oil inventories at 1530 UTC.

 

USDCAD – 1 Hour Chart

 

USDCAD - 14.02.2018

As suggested in yesterday’s chart analysis, the USDCAD has been reversing off the support and resistance areas of the horizontal channel. Price continues to be indecisive and move within a horizontal channel at 1.2550-1.2625. The moving averages are tightening and are moving sideways – confirming the market indecision. Trading opportunities may exist around the support and resistance areas of the horizontal channel and if the USDCAD moves out of the channel (break-out trade). If price breaks to the downside, the USDCAD could be rejected or reverse around the horizontal support at 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.

US CPI and retail sales figures will be released at 1330 UTC today. This is followed by US crude oil inventories at 1530 UTC.

 

USDCHF – 1 Hour Chart

 

USDCHF - 14.02.2018

Price has been bearish. The moving averages are bearish and are steady, suggesting that the downside momentum may continue. Selling opportunities could exist around the horizontal levels at 0.9345 and 0.9405, around the trend resistance area and around the dynamic resistance of the moving averages. A move to the downside may stall or reverse around the recent lows at 0.9255.

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.

US CPI and retail sales figures will be released at 1330 UTC today. This is followed by US crude oil inventories at 1530 UTC.

 

USDJPY – 1 Hour Chart

 

USDJPY - 14.02.2018

As suggested in yesterday’s chart analysis, price found support around the bearish channel support area. The USDJPY has since been bearish and has moved below the channel. Price is down-trending. The moving averages are bearish and are widening, signalling that the downtrend could continue. Shorting opportunities may exist around the channel support area (as resistance), around the bearish moving averages and around the horizontal levels at 108.25 and 108.75.

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.

US CPI and retail sales figures will be released at 1330 UTC today. This is followed by US crude oil inventories at 1530 UTC.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 14.02.2018

GOLD has been bullish. The moving averages are bullish and are widening, suggesting that the buying momentum may continue. Opportunities to go long could exist around the diagonal support area and around the dynamic support of the moving averages. A move to the upside may stall or reverse around the horizontal resistance levels at 1345.90, 1349.90 and 1355.60.


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