TriumphFX Inter-day Chart Analysis – Daily Charts – February 15, 2018


EURUSD - 15.02.2018 - Daily

 

AUDUSD – Daily Chart

 

AUDUSD - 15.02.2018 - Daily

The AUDUSD has formed a swing higher but continues to be indecisive and lack trend direction. The moving averages confirm this – they are moving sideways. Trading opportunities could exist around the horizontal levels at 0.8115, 0.7785, 0.7500 and 0.7340 and around the support and resistance areas of the potential bullish channel.

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.

 

EURGBP – Daily Chart

 

EURGBP - 15.02.2018 - Daily

As suggested in our last inter-day chart analysis, the EURGBP has reversed around the horizontal channel support area. Price continues to be indecisive and move within a horizontal channel at 0.8715-0.9010. Trading opportunities may exist around the support and resistance areas of the channel and if price moves out of the channel (break-out trade). A break to the upside could stall or reverse around the recent highs at 0.9260. A break to the downside could stall or reverse around the horizontal support at 0.8340.

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.

 

EURUSD – Daily Chart

 

EURUSD - 15.02.2018 - Daily

Price closed above the range resistance area at 1.2030 and has since been bullish (as suggested in our last inter-day chart analysis). The EURUSD is up-trending and has formed a bullish channel. The moving averages are bullish and are steady, signalling that the uptrend may continue. Buying opportunities could exist around the previous horizontal resistance at 1.2060, around the channel support area and around the dynamic support of the moving averages. A move to the upside may be rejected or reverse around the channel resistance 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. 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.

 

GBPUSD – Daily Chart

 

GBPUSD - 15.02.2018 - Daily

The GBPUSD has been up-trending and has formed some clear swing highs and swing lows. Price is currently in a retrace/correction phase. The moving averages are bullish and are steady, suggesting that the uptrend could continue. Long opportunities may exist around any of the key Fib levels, around the trend support area, around the horizontal levels at 1.3580, 1.3310 and 1.3040 and around the dynamic support of the moving averages. A bullish move could be rejected or reverse around the recent swing high at 1.4260.

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.

 

NZDUSD – Daily Chart

 

NZDUSD - 15.02.2018 - Daily

Price continues to be choppy and indecisive. The moving averages confirm the market indecision – they have been crossing frequently. Trading opportunities could exist around any of the identified horizontal levels at 0.6795, 0.7050, 0.7225, 0.7400 and 0.7525.

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.

 

USDCAD – Daily Chart

 

USDCAD - 15.02.2018 - Daily

As suggested in our last inter-day chart analysis, price closed below the horizontal channel support area and was then bearish. The USDCAD has since reversed some of the recent bearish move. Price is now looking indecisive. The moving averages are moving sideways – confirming the current indecision. Trading opportunities may exist around the horizontal levels at 1.2105, 1.2250, 1.2670, 1.2890 and 1.3015.

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.

 

USDJPY – Daily Chart

 

USDJPY - 15.02.2018 - Daily

As suggested in our last inter-day chart analysis, the USDJPY has continued to be indecisive and move within a horizontal channel at 107.80-114.40. Price has now closed below the horizontal channel support area, signalling that the USDJPY may start down-trending. Opportunities to go short could exist around the previous horizontal channel support area at 107.80, around key Fib levels and around the dynamic resistance of the moving averages.

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.

 

XAUUSD – Daily Chart

 

XAUUSD - 15.02.2018 - Daily

Price is currently indecisive and is ranging between the recent swing low at 1242.20 and the horizontal resistance at 1356.20. The moving averages confirm the market indecision – they are tight and are moving sideways. Trading opportunities may exist around the support and resistance areas of the range and if GOLD moves out of the range (break-out trade). A break to the downside could stall or reverse around the horizontal support at 1211.70.