TriumphFX Intraday Forex Analysis – 1 Hour Charts – March 15, 2018


USDCHF - 15.03.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 15.03.2018

As suggested in yesterday’s chart analysis, the AUDUSD was bullish and was able to form a swing higher. Price is now looking a little indecisive. The moving averages confirm the indecision – they are tightening and are moving sideways. Trading opportunities may exist around the support and resistance areas of the range and if the AUDUSD closes out of the range (break-out trade). If price breaks to the downside, a bearish move could stall or reverse around the horizontal levels at 0.7830 and 0.7775.

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 - 15.03.2018

The EURGBP has continued to be bearish and move lower (as suggested in yesterday’s chart analysis). The moving averages are bearish and are steady, signalling that the bearish momentum may continue. Selling opportunities could exist around the trend resistance area, around the dynamic resistance of the moving averages and around the previous horizontal support at 0.8900. Price may continue to find support around the horizontal level at 0.8845.

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 today that will directly impact this currency pair.

 

EURUSD – 1 Hour Chart

 

EURUSD - 15.03.2018

Price continues to be indecisive and consolidate between  the horizontal levels at 1.2285-1.2435 (range) and also between the diagonal support and resistance areas (symmetrical triangle). Trading opportunities may exist around the support and resistance areas of both consolidation patterns and if the EURUSD closes out of either pattern (break-out trades). The moving averages have been crossing frequently and are moving sideways – confirming the market indecision.

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 today that will directly impact this currency pair.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 15.03.2018

As suggested in yesterday’s chart analysis, price reversed around the trend support area and the shorter-term moving average and has since been bullish. The moving averages are bullish and are steady, suggesting that the current uptrend may continue. Long opportunities could exist around the trend support area, around the moving averages and around the previous horizontal resistance at 1.3915. A bullish move may be rejected or reverse around the horizontal resistance levels at 1.3995 and 1.4060.

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 - 15.03.2018

The NZDUSD is up-trending within a bullish channel. Price recently found support around the longer-term moving average (as suggested in yesterday’s chart analysis), but is currently in a retrace/correction phase. The moving averages are bullish, signalling that the uptrend could continue. Opportunities to go long may exist around the longer-term moving average, around the bullish channel support area and around the horizontal support at 0.7250. A move to the upside could stall or reverse around the horizontal resistance at 0.7355 and the channel resistance area.

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 - 15.03.2018

The USDCAD continues to be indecisive. The moving averages confirm the market indecision – they have been crossing frequently and are moving sideways. Trading opportunities could exist around the identified horizontal levels at 1.2725, 1.2800, 1.2870, 1.2970 and 1.3000. If price closes above the horizontal level at 1.3000, the USDCAD may attempt a bullish move higher.

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 - 15.03.2018

As suggested in yesterday’s chart analysis, the USDCHF was bullish and reversed around the longer-term moving average. Price continues to be choppy but is up-trending. The USDCHF is currently in a retrace phase. Buying opportunities could exist around the previous horizontal resistance at 0.9415, around the recent swing low at 0.9425 and around the trend support area. The moving averages are bearish and are widening, suggesting that the USDCHF may struggle to swing higher. A bullish move may be rejected or reverse around the moving averages and around the recent swing high at 0.9530.

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.

The Swiss National Bank (SNB) will announce rates and give a monetary policy assessment at 0830 UTC today.

 

USDJPY – 1 Hour Chart

 

USDJPY - Price Action

Price continues to be choppy and indecisive. Trading opportunities may exist around the horizontal levels at 105.35, 105.50, 106.25, 107.20, 107.55 and 107.85. The moving averages have been crossing frequently and are currently tight and moving sideways – confirming the lack of trend momentum.

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 - 15.03.2018

GOLD 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 1305.70, 1315.60, 1329.00 and 1340.20. Price action is forming a horizontal channel at 1315.60-1329.00. Trading opportunities may exist around the support and resistance areas of the horizontal channel and if GOLD moves out of the channel (break-out trade).


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