TriumphFX Intraday Forex Analysis – 1 Hour Charts – April 12, 2018


NZDUSD - 12.04.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 12.04.2018

The AUDUSD continues to be choppy and indecisive. Price is now ranging between the horizontal levels at 0.7745-0.7770. Trading opportunities could exist around the support and resistance levels of the range and also around the horizontal levels at 0.7725 and 0.7775. The moving averages are bullish and are widening, suggesting that the AUDUSD may attempt a bullish move higher.

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 today that will directly impact this currency pair.

 

EURGBP – 1 Hour Chart

 

EURGBP - 12.04.2018

Price has moved above the resistance areas and the horizontal channel. The EURGBP is now looking indecisive. The moving averages confirm the market indecision – they are tight and are moving sideways. Trading opportunities may exist around the identified horizontal levels at 0.8695, 0.8735, 0.8750, 0.8755, 0.8790 and 0.8800. If price closes below the horizontal support at 0.8695, the EURGBP could attempt a bearish move lower.

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 European Central Bank (ECB) will release monetary policy meeting accounts at 1130 UTC today. The Governor of the Bank of England (BOE) will speak at 1900 UTC.

 

EURUSD – 1 Hour Chart

 

EURUSD - 12.04.2018

As suggested in yesterday’s chart analysis, price reversed around the horizontal level at 1.2385. The EURUSD continues to be indecisive. Trading opportunities could exist around the horizontal levels at 1.2225, 1.2260, 1.2290, 1.2340, 1.2385 and 1.2465. The moving averages are bullish and are steady, signalling that price may move higher.

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.

The European Central Bank (ECB) will release monetary policy meeting accounts at 1130 UTC today.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 12.04.2018

The GBPUSD has been finding support around the shorter-term moving average (as suggested in yesterday’s chart analysis). Price has become indecisive though and is ranging between the horizontal levels at 1.4160-1.4210. Trading opportunities may exist around the support and resistance areas of the range and if the GBPUSD closes out of the range (break-out trade). A break-out move could stall or reverse around the horizontal levels at 1.4100 and 1.4240. The moving averages are bullish and are steady, signalling that price could break to the upside.

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.

The Governor of the Bank of England (BOE) will speak at 1900 UTC today.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 12.04.2018

As suggested in yesterday’s chart analysis, the NZDUSD found support around the shorter-term moving average and has continue to be bullish. Price continues to uptrend within a bullish channel. The moving averages are bullish, signalling that the buying momentum may continue. Opportunities to go long could exist around the dynamic support of the moving averages, around the horizontal levels at 0.7345 and 0.7320 and around the bullish channel support area. The NZDUSD may be rejected or reverse around 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 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 today that will directly impact this currency pair.

 

USDCAD – 1 Hour Chart

 

USDCAD - 12.04.2018

Price reversed around the previous bearish channel support area (as suggested in yesterday’s chart analysis). The USDCAD continues to downtrend and be bearish. The moving averages are bearish and are widening, signalling that the selling momentum could continue. Shorting opportunities may exist around the previous bearish channel support and resistance areas, around the dynamic resistance of the moving averages and around the previous horizontal support at 1.2735. The USDCAD could continue to find support around the recent low at 1.2555.

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 today that will directly impact this currency pair.

 

USDCHF – 1 Hour Chart

 

usdchf - 12.04.2018

The USDCHF 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 horizontal levels at 0.9525, 0.9540 and 0.9640.

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 bearish stock markets may give strength to the Swiss Franc as the CHF is a safe-haven currency. The concern of a potential tariff war between the US and China may also give strength to the CHF.

There is no major scheduled news today that will directly impact this currency pair.

 

USDJPY – 1 Hour Chart

 

USDJPY - 12.04.2018

As suggested in yesterday’s chart analysis, the USDJPY reversed around the range support area. Price continues to be indecisive and range between the horizontal levels at 106.65 and 107.50. The moving averages confirm the current indecision – they are moving sideways and are crossing frequently. Trading opportunities may exist around the support and resistance areas of the range and if the USDJPY closes out of the range (break-out trade).

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. The concern of a potential tariff war between the US and China may also give strength to the Yen.

There is no major scheduled news today that will directly impact this currency pair.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 12.04.2018

GOLD has been bullish and has swung above the recent consolidation area. The moving averages are bullish, suggesting that price may start up-trending. Opportunities to go long could exist around the previous swing high at 1347.10, around the dynamic support of the moving averages and around any of the key Fib levels. A bullish move may be rejected or reverse around the newly formed swing high at 1361.30.


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