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


GBPUSD - 26.02.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 26.02.2018

Price continues to be indecisive and lack trend direction. The moving averages confirm the market indecision – they are tightening and are moving sideways. Trading opportunities may exist around the identified horizontal levels at 0.7770, 0.7790, 0.7810, 0.7895 and 0.7985.

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 today that will directly impact this currency pair.

 

EURGBP – 1 Hour Chart

 

EURGBP - 26.02.2018

As suggested in Friday’s chart analysis, price closed below the range support area and has since been bearish. The EURGBP is down-trending and has formed a potential bearish channel. The moving averages are bearish and are steady, signalling that the downtrend may continue. Shorting opportunities could exist around the previous swing low at 0.8805, around the dynamic resistance of the moving averages, around the channel resistance area and around the horizontal resistance at 0.8855. A bearish move may find support around the channel support area and around the recent lows at 0.8740.

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.

The President of the European Central Bank (ECB) will speak at 1400 UTC today.

 

EURUSD – 1 Hour Chart

 

EURUSD - 26.02.2018

The EURUSD continues to be indecisive and has been moving off the range support and resistance areas (as suggested in Friday’s chart analysis). 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 range and if price moves out of the range (break-out trade). If the EURUSD breaks to the downside, price could find support around the recent lows at 1.2210.

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.

The President of the European Central Bank (ECB) will speak at 1400 UTC today.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 26.02.2018

Price has been bullish but continues to be indecisive. The moving averages confirm this – they are tight and are moving sideways. Trading opportunities could exist around the horizontal levels at 1.3780, 1.3805, 1.3875 and 1.4135.

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 today that will directly impact this currency pair.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 26.02.2018

The NZDUSD has almost reversed the recent bearish swing. Price has become indecisive again (just like most other USD pairs). The moving averages are tightening and are moving sideways – confirming the current indecision. The NZDUSD is ranging between the recent swing low at 0.7280 and the horizontal resistance at 0.7350. Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). The NZDUSD could stall or reverse around the horizontal levels at 0.7180 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%. 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 today that will directly impact this currency pair.

 

USDCAD – 1 Hour Chart

 

USDCAD - 26.02.2018

As suggested in Friday’s chart analysis, the USDCAD was rejected at the previous horizontal resistance at 1.2635. Price has since moved lower. The USDCAD is up-trending and is current in a retrace/correction phase. Buying opportunities could exist around the 50.0% and 61.8% Fib levels. The bullish moving averages are tightening and could cross bearish, signalling that price may struggle to swing high. If the USDCAD becomes bearish, price may find support or reverse around the horizontal support at 1.2455.

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 today that will directly impact this currency pair.

 

USDCHF – 1 Hour Chart

 

USDCHF - 26.02.2018

Just like other FX pairs, the USDCHF continues to be indecisive. The moving averages have been crossing frequently and are moving sideways – confirming the market indecision. Trading opportunities may exist around the horizontal levels at 0.9320, 0.9405 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 today that will directly impact this currency pair.

 

USDJPY – 1 Hour Chart

 

USDJPY - 26.02.2018

Price continues to be indecisive. The moving averages confirm the indecision – they have been crossing frequently and are moving sideways. Trading opportunities could exist around the horizontal levels at 105.70, 107.85 and 108.30 and around the diagonal 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. 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 today that will directly impact this currency pair.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 26.02.2018

As suggested in Friday’s chart analysis, price closed above the range resistance area and has since been bullish. GOLD continues to be indecisive. The moving averages are tight and are moving sideways – confirming the market indecision. Price may stall or reverse around the horizontal levels at 1310.05, 1312.50, 1321.45, 1332.00, 1344.60 and 1359.85.