TriumphFX Intraday Forex Analysis – 1 Hour Charts – March 30, 2018


USDCAD - 30.03.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 30.03.2018

As suggested in yesterday’s chart analysis, price has been finding resistance around the previous horizontal support at 0.7690. The AUDUSD is still moving within a bearish channel. The moving averages are still bearish, signalling that price could attempt a bearish move lower. Selling opportunities may exist around the previous horizontal support at 0.7690, around the longer-term moving average and around the bearish channel resistance area. A move to the downside could stall or reverse around the channel support area.

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 - 30.03.2018 #

Price continues to be indecisive and move within the horizontal channel at 0.8695-0.8800. The moving averages confirm the market indecision – they are tight and are moving sideways. Trading opportunities could exist around the support and resistance areas of the horizontal channel and if the EURGBP closes out of the channel (break-out trade).

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 - 30.03.2018

The EURUSD continues to be indecisive. The moving averages have been crossing frequently – confirming the current indecision. Trading opportunities may exist around the horizontal levels at 1.2240, 1.2285, 1.2380, 1.2465 and around the moving averages.

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 - 30.03.2018

As suggested in yesterday’s chart analysis, the GBPUSD reversed around the previous horizontal support at 1.4090 and has moved lower. The moving averages are bearish and are widening, signalling that the downside momentum may continue. Shorting opportunities could exist around the previous horizontal support at 1.4090, around the trend resistance area and around the dynamic resistance of the moving averages. A bearish move may be rejected or reverse around the horizontal support levels at 1.3990 and 1.3895.

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 - 30.03.2018

Price continues to be indecisive. The moving averages confirm the lack of trend direction – they have been crossing frequently and are currently moving sideways. Trading opportunities may exist around the horizontal levels at 0.7155, 0.7185, 0.7300 and 0.7355.

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 - 30.03.2018

As suggested in yesterday’s chart analysis, price has reversed around the channel resistance area. The USDCAD continues to be indecisive and move within the horizontal channel at 1.2825-1.2940. The moving averages are moving sideways – confirming the lack of trend momentum. Trading opportunities could exist around the support and resistance areas of the horizontal channel and if price closes out of the channel (break-out trade). If the USDCAD breaks to the upside, price could stall or reverse around the horizontal levels at 1.2970 and 1.3000. A break to the downside could stall or reverse around 1.2800.

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 - 30.03.2018

The USDCHF has been bullish and has formed a swing higher (as suggested in yesterday’s chart analysis). Price is looking choppy but is up-trending. The moving averages are bullish and are widening, signalling that the uptrend may continue. Buying opportunities could exist around the dynamic support of the moving averages, around any of the key Fib levels and around the previous horizontal resistance levels at 0.9510 and 0.9495. An attempt to swing higher may find resistance around the recent swing high at 0.9580.

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 - 30.03.2018

Price action has formed a series of higher swing highs and higher swing lows – the USDJPY is up-trending. The moving averages are bullish and are steady, suggesting that the uptrend could continue. Long opportunities may exist around the dynamic support of the moving averages, around the trend support area and around the previous swing high at 105.80. A bullish move could stall or reverse around the horizontal resistance levels at 107.00 and 107.20.

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

 

gold - 30.03.2018

GOLD continues to be bearish and reverse the recent bullish move. Price is looking indecisive. Trading opportunities could exist around the identified horizontal levels at 1308.80, 1315.00 and 1355.50.