TriumphFX Intraday Forex Analysis – 1 Hour Charts – March 28, 2018


XAUUSD - 28.03.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 28.03.2018

As suggested in yesterday’s chart analysis, price has reversed around the range support area. The AUDUSD continues to be indecisive and range between the horizontal support at 0.7675 and the swing high at 0.7775. The moving averages are tight and are moving sideways – confirming the current indecision. Trading opportunities may exist around the support and resistance areas of the range and if the AUDUSD moves out of the range (break-out trade).

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.

A US final GDP figure will be announced at 1330 UTC. This is followed by US crude oil inventories at 1500 UTC.

 

EURGBP – 1 Hour Chart

 

EURGBP - 28.03.2018

Price was initially bullish during yesterday’s trading sessions but reversed around the horizontal resistance at 0.8795 (as suggested in yesterday’s chart analysis). The EURGBP continues to be slightly indecisive. The moving averages confirm this – they are tight and are moving sideways. Price is ranging between the horizontal levels at 0.8695-0.8795. Trading opportunities could exist around the support and resistance areas of the range and around the diagonal support areas.

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 - 28.03.2018

As suggested in yesterday’s chart analysis, the EURUSD found support around the previous horizontal resistance at 1.2380. Price action has formed a swing higher and the moving averages are bullish and are widening, all signalling that the bullish momentum could continue. Buying opportunities may exist around the dynamic support of the moving averages, around the previous horizontal resistance at 1.2385 and around any of the key Fib levels.

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 today that will directly impact this currency pair.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 28.03.2018

The GBPUSD was bearish during yesterday’s trading sessions. Price has now become indecisive. The moving averages are moving sideways – confirming the market indecision. The GBPUSD is ranging between the recent highs at 1.4240 and the horizontal support at 1.4090. Trading opportunities could exist around the support and resistance areas of the range and if price closes out of the range (break-out trade). If price breaks to the downside, the GBPUSD may stall or reverse around the horizontal levels at 1.4065, 1.3990 and 1.3990.

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.

A US final GDP figure will be announced at 1330 UTC. This is followed by US crude oil inventories at 1500 UTC.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 28.03.2018

As suggested in yesterday’s chart analysis, price has been finding support around the previous horizontal resistance at 0.7260 and the longer-term moving average. Price action has formed a short series of higher swing highs and higher swing lows. The moving averages are bullish and steady, signalling that the NZDUSD could attempt another bullish move. Long opportunities may exist around the horizontal level at 0.7260, around the longer-term moving average and around any of the key Fib levels.  A bearish move could find support around the horizontal levels at 0.7200 and 0.7155.

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.

A US final GDP figure will be announced at 1330 UTC. This is followed by US crude oil inventories at 1500 UTC.

 

USDCAD – 1 Hour Chart

 

USDCAD - 28.03.2018

Price continues to be choppy and indecisive. The moving averages are tightening and are moving sideways – confirming the indecision. Trading opportunities could exist around any of the horizontal levels at 1.2800, 1.2825, 1.2915, 1.2940, 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.

A US final GDP figure will be announced at 1330 UTC. This is followed by US crude oil inventories at 1500 UTC.

 

USDCHF – 1 Hour Chart

 

USDCHF - 28.03.2018

The USDCHF continues to be choppy and indecisive. The moving averages confirm the current indecision – they are tight and are moving sideways. Price is ranging between the horizontal support at 0.9430 and the horizontal resistance at 0.9495. Trading opportunities may exist around the support and resistance areas of the range and if the USDCHF moves out of the range (break-out trade). If price breaks to the upside, the USDCHF could be rejected or reverse around the horizontal resistance levels at 0.9510 and 0.9565.

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.

A US final GDP figure will be announced at 1330 UTC. This is followed by US crude oil inventories at 1500 UTC.

 

USDJPY – 1 Hour Chart

 

USDJPY - 28.03.20187

As suggested in yesterday’s chart analysis, the USDJPY reversed around the 61.8% Fib level and the trend resistance area. Price is down-trending and is currently in a retrace/correction phase. Selling opportunities could exist around the 61.8% Fib level and around the trend resistance area. The moving averages have crossed bullish and are widening, signalling that the USDJPY may become bullish and move above the trend resistance area.

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.

A US final GDP figure will be announced at 1330 UTC. This is followed by US crude oil inventories at 1500 UTC.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 28.03.2018

Price has formed a clear swing high. GOLD is now retracing some of the recent bullish move but price is above a recent consolidation area and the moving averages are bullish, all suggesting that GOLD could swing higher. Opportunities to go long may exist around the previous horizontal resistance levels at 1339.05, 1333.85, 1329.05 and around any of the key Fib levels. An attempt to swing high could stall or reverse around the moving averages and around the swing high at 1355.50.