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


 

AUDUSD – 1 Hour Chart

 

AUDUSD - 26.03.2018

Price continues to be indecisive. The moving averages confirm the current lack of trend direction – they are tight and are moving sideways. The AUDUSD is ranging between the horizontal support area at 0.7675 and the recent swing high at 0.7775. 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 0.7830, 0.7850 and 0.7900.

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 Open Market Committee (FOMC)  recently raised rates to 1.75%. 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 currency pair.

 

EURGBP – 1 Hour Chart

 

EURGBP - 26.03.2018

As suggested in Friday’s chart analysis, price has been finding resistance around the longer-term moving average and the horizontal level at 0.8750. The EURGBP is now moving sideways and is ranging between the horizontal levels at 0.8695-0.8750. The moving averages are tightening and are moving sideways – confirming the market indecision. Trading opportunities could exist around the support and resistance areas of the range and if the EURGBP closes out of the range (break-out trade). A move to the upside may be rejected or reverse around the trend resistance area and the horizontal levels at 0.8800 and 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 during today’s trading sessions that will directly impact this currency pair.

 

EURUSD – 1 Hour Chart

 

EURUSD - 26.03.2018

The EURUSD found support around the shorter-term moving average and has since been bullish (as suggested in Friday’s chart analysis). Price is above the recent bearish channel and the moving averages are bullish, all signalling that the EURUSD could move higher. Buying opportunities may exist around the previous bearish channel resistance area (as support), around the dynamic support of the moving averages and around the trend support area. A move to the upside could find resistance around the horizontal levels at 1.2380, 1.2410 and 1.2435.

The US Federal Open Market Committee (FOMC)  recently raised rates to 1.75%. 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 currency pair.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 26.03.2018

As suggested in Friday’s chart analysis, the GBPUSD reversed around the trend support area and has since been bullish. Price is up-trending within a bullish channel. The moving averages are bullish, signalling that the upside momentum may continue. Opportunities to go long could exist around the dynamic support of the moving averages, around the channel support area and around the horizontal levels at 1.4090 and 1.4065. A bullish move may stall or reverse around the horizontal resistance at 1.4170 and the channel resistance area.

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 Open Market Committee (FOMC)  recently raised rates to 1.75%. 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 currency pair.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 26.03.2018

Price action has formed an inverted head and shoulder pattern. The NZDUSD is now bullish. The moving averages are bullish and are widening, suggesting that the buying momentum could continue. Long opportunities may exist around the previous horizontal resistance at 0.7260, around the potential trend support area and around the moving averages. If the NZDUSD continues to rally, price could find resistance around the recent highs at 0.7350.

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 Open Market Committee (FOMC)  recently raised rates to 1.75%. 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 currency pair.

 

USDCAD – 1 Hour Chart

 

USDCAD - 26.03.2018

The USDCAD continues to be choppy and indecisive. The moving averages have been crossing frequently – confirming the current indecision. Trading opportunities could exist around the horizontal levels at 1.2800, 1.2835, 1.2935, 1.2970, 1.3000 and 1.3120.

The Bank of Canada recently raised rates to 1.25%. A recent rally on the oil markets has given some strength to the Canadian Dollar. The US Federal Open Market Committee (FOMC)  recently raised rates to 1.75%. 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 currency pair.

 

USDCHF – 1 Hour Chart

 

USDCHF - 26.03.2018

Price has been bullish and has moved above the bearish channel resistance area. The USDCHF continues is looking choppy and has become 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 0.9425, 0.9445, 0.9510, 0.9565 and around the support and resistance areas of the previous bearish channel.

The US Federal Open Market Committee (FOMC)  recently raised rates to 1.75%. 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 currency pair.

 

USDJPY – 1 Hour Chart

 

USDJPY - 26.03.2018

The USDJPY has formed a short series of lower swing highs and lower swing lows – price is down-trending. Price is still below the recent consolidation area and the moving averages are bearish and are widening, all suggesting that the downtrend may continue. Shorting opportunities could exist around the dynamic resistance of the moving averages, around the previous horizontal support levels at 105.30, 105.50 and 105.60 and around the trend resistance area. An attempt to swing low may find support around the recent swing low at 104.65.

The US Federal Open Market Committee (FOMC)  recently raised rates to 1.75%. 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 become bearish, the Yen may continue to strength.

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

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 26.03.2018

As suggested in Friday’s chart analysis, GOLD has continued to be bullish. Price action has formed a swing higher and price is now in a retrace/correction phase. If GOLD continues to retrace, opportunities to go long may exist around any of the key Fib levels, around the previous horizontal resistance levels at 1339.05, 1333.85, 1329.05 and around the bullish moving averages.