TriumphFX Intraday Forex Analysis – 1 Hour Charts – April 25, 2018


USDJPY - 25.04.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 25.04.2018

As suggested in yesterday’s chart analysis, price continues to be bearish and is swinging lower. The moving averages are still bearish, signalling that the downside momentum could continue. Shorting opportunities may exist around the previous horizontal support levels at 0.7590 and 0.7655 and around the dynamic resistance 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.

US crude oil inventories is at 1430 UTC today.

 

EURGBP – 1 Hour Chart

 

EURGBP - 25.04.2018

Price has been finding support around the horizontal level at 0.8735 (as suggested in yesterday’s chart analysis). The EURGBP continues to be indecisive. The moving averages are tightening and are moving sideways – confirming the market indecision. Trading opportunities could exist around the identified horizontal levels at 0.8620, 0.8670, 0.8690, 0.8735, 0.8770 and 0.8780. If price closes above the horizontal resistance at 0.8780, the EURGBP may attempt a bullish move higher.

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 - 25.04.2018

The EURUSD has been retracing some of the recent bearish move. The moving averages are bearish, suggesting that price could attempt a swing lower. Opportunities to go short may exist around any of the key Fib levels, around the dynamic resistance of the moving averages and around the previous horizontal support at 1.2265. The EURUSD could stall or reverse around the horizontal support and recent lows at 1.2195.

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.

US crude oil inventories is at 1430 UTC today.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 25.04.2018

As suggested in yesterday’s chart analysis, the GBPUSD has reversed around the previous horizontal support at 1.3985. Price is in a retrace phase. The moving averages are bearish, signalling that the GBPUSD may attempt to swing lower. Selling opportunities could exist around the horizontal level at 1.3990, around the trend resistance area, around the dynamic resistance of the moving averages and around any of the key Fib levels.

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.

US crude oil inventories is at 1430 UTC today.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 25.04.2018

Price has continued to be bearish and move lower (as suggested in yesterday’s chart analysis). The moving averages are bearish and steady, signalling that the selling momentum could continue. The NZDUSD is looking over-extended though, signalling that price could attempt a bullish retrace move. Buying opportunities may exist as price retraces toward the moving averages. Selling opportunities may exist around the moving averages.

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.

US crude oil inventories is at 1430 UTC today.

 

USDCAD – 1 Hour Chart

 

USDCAD - 25.04.2018

As suggested in yesterday’s chart analysis, price reversed around the shorter-term moving average and is now swinging higher. The moving averages are bullish, signalling that the upside momentum may continue. Opportunities to go long could exist around the horizontal levels at 1.2850, 1.2820, 1.2805, around the trend support area and around the dynamic support of the moving averages.

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.

US crude oil inventories is at 1430 UTC today. The Governor of the Bank of Canada will speak at 2015 UTC.

 

USDCHF – 1 Hour Chart

 

USDCHF - 25.04.2018

The USDCHF has continued to be bullish and has moved-off the shorter-term moving average (as suggested in yesterday’s chart analysis). Price is moving within a bullish channel. The moving averages suggest that the buying momentum could continue – they are bullish and steady. The USDCHF is looking over-extended though, signalling that price may attempt a bearish retrace move and swing below the channel support area. Shorting opportunities could exist around the channel resistance area. Long opportunities could exist around the dynamic support of 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 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.

US crude oil inventories is at 1430 UTC today.

 

USDJPY – 1 Hour Chart

 

USDJPY - 25.04.2018

As suggested in yesterday’s chart analysis, the USDJPY has continued to be bullish. Price is up-trending. The moving averages are bullish and are widening, signalling that the uptrend could continue. Buying opportunities may exist around the horizontal support at 108.60 and around the dynamic support of the moving averages. The USDJPY could start ranging between the horizontal levels at 108.60 and 109.15.

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.

US crude oil inventories is at 1430 UTC today.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 25.04.2018

GOLD continues to be indecisive. The moving averages are still bearish, suggesting that price may attempt to swing lower. Selling opportunities could exist around the horizontal levels at 1332.00, 1334.90, 1338.80, around the dynamic resistance of the moving averages and around the diagonal resistance area. GOLD could be rejected or reverse around the horizontal support at 1322.30.


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