TriumphFX Intraday Forex Analysis – 1 Hour Charts – April 13, 2018


XAUUSD - 13.04.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 13.04.2018

As suggested in yesterday’s chart analysis, price closed above the range resistance area and has since been bullish. The AUDUSD is now above the recent consolidation area and the moving averages are bullish and are steady, all signalling that price could move higher. Buying opportunities may exist around the horizontal levels at 0.7770, 0.7740 and 0.7725 and around the dynamic support of the moving averages.

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 - 13.04.2018

Price moved below the horizontal support at 0.8695 and has since been very bearish (as suggested in yesterday’s chart analysis). The EURGBP is below the recent consolidation area and the moving averages are bearish, all signalling that price may start down-trending. Shorting opportunities could exist around any of the key Fib levels, around the previous range support at 0.8695 and around the dynamic resistance of the moving averages.

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 - 13.04.2018

The EURUSD continues to be indecisive. The moving averages confirm the lack of trend direction – they are moving sideways and are tightening. Trading opportunities may exist around the identified horizontal levels at 1.2225, 1.2260, 1.2290, 1.2305, 1.2385 and 1.2465.

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 - 13.04.2018

As suggested in yesterday’s chart analysis, the GBPUSD broke to the upside of the range and then reversed around the highs at 1.4240. The moving averages are bullish, signalling that the upside momentum may continue. Opportunities to go long could exist around the horizontal levels at 1.4210 and 1.4145, around the dynamic support of the moving averages and around the trend support area. The GBPUSD may continue to find resistance around the horizontal level at 1.4245.

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 today that will directly impact this currency pair.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 13.04.2018

Price continues to uptrend within a bullish channel. The NZDUSD is currently moving sideways and is ranging between the horizontal support at 0.7345 and the horizontal resistance at 0.7385. The bullish moving averages are tightening, suggesting that buying momentum could be weakening. Trading opportunities may exist around the range support and resistance areas, around the moving averages and around the bullish channel support and resistance areas.

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 - 13.04.2018

The USDCAD has been down-trending but is currently moving sideways. Price action has formed a horizontal channel at 1.2555-1.2620. Trading opportunities could exist around the support and resistance areas of the horizontal channel and if price moves out of the channel (break-out trade). Selling opportunities could exist around the moving averages. A break to the upside may be rejected or reverse around any of the key Fib levels and around the trend resistance area.

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 - 13.04.2018

As suggested in yesterday’s chart analysis, price reversed around the horizontal level at 0.9640. The USDCHF continues to be indecisive. The moving averages have been crossing frequently – confirming the market indecision. Price is ranging between the horizontal levels at 0.9525 and 0.9640. Trading opportunities may exist around the support and resistance areas of the range and if the USDCHF moves out of the channel (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. 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

 

XAUUSD - 13.04.2018

Price has continued to be indecisive and move within the horizontal channel at 106.65-107.50. The USDJPY is now attempting a move above the channel resistance area. If price closes above the channel resistance, the USDJPY may become bullish. Long opportunities could exist around the channel resistance (as support) at 107.50, around the dynamic support of the moving averages and around the diagonal support 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. 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 - 13.04.2018

GOLD has been bearish and has re-entered the consolidation area. The moving averages are moving sideways and are tightening, signalling market indecision. Trading opportunities may exist around the identified horizontal levels at 1322.30, 1326.85, 1347.10 and 1361.30. If price closes below the support at 1322.30, GOLD could attempt a bearish move lower.