TriumphFX Intraday Forex Analysis – 1 Hour Charts – April 26, 2018


GBPUSD - 26.04.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 26.04.2018

The AUDUSD is down-trending. Price is currently in a retrace phase. The moving averages are bearish, suggesting that the downside momentum may continue. Selling opportunities could exist around the horizontal levels at 0.7590 and 0.7655 and around the dynamic resistance of the moving averages. A bearish move may stall or reverse around the new swing low at 0.7555.

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 durable goods orders figure will be announced at 1130 UTC today.

 

EURGBP – 1 Hour Chart

 

EURGBP - 26.04.2018

Price has been bearish. The EURGBP has moved below the horizontal support at 0.8735 and the moving averages have crossed bearish, all suggesting that price could attempt a move lower. Shorting opportunities may exist around the previous horizontal support at 0.8735, around the diagonal resistance area and around the dynamic resistance of the moving averages. A bearish move lower could find support around the horizontal support at 0.8690.

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 announce the minimum bid rate at 1145 UTC today. This is followed by a press conference at 1230 UTC.

 

EURUSD – 1 Hour Chart

 

EURUSD - 26.04.2018

As suggested in yesterday’s chart analysis, the EURUSD has been bearish and is forming a swing lower. Price is down-trending. The moving averages are bearish, signalling that the downtrend may continue. Opportunities to go short could exist around the horizontal levels at 1.2195, 1.2240 and 1.2265 and around the moving averages. An attempt to swing lower may be rejected or reverse around the recent low at 1.2160.

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 announce the minimum bid rate at 1145 UTC today. This is followed by a press conference at 1230 UTC. A US durable goods orders figure will be announced at the same time as the ECB press conference.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 26.04.2018

Price has been bearish and is attempting to swing lower (as suggested in yesterday’s chart analysis). The bearish moving averages are tightening and are moving sideways, signalling that selling momentum is weakening. The GBPUSD could start ranging between the horizontal levels at 1.3920-1.3995. Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). Shorting opportunities may exist around the trend resistance area 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.

A US durable goods orders figure will be announced at 1130 UTC today.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 26.04.2018

The NZDUSD has continued to be bearish and move lower. The moving averages are bearish and steady, suggesting that the selling momentum may continue. Price is looking over-extended though, signalling that the NZDUSD may attempt a bullish retrace move. Buying opportunities could 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.

A US durable goods orders figure will be announced at 1130 UTC today.

 

USDCAD – 1 Hour Chart

 

USDCAD - 26.04.2018

Price has been bearish and has moved below the trend support area. The USDCAD is now looking a little indecisive. The moving averages confirm this – they are tightening and are starting to move sideways. Price is ranging between the horizontal levels at 1.2820 and 1.2890. Trading opportunities may exist around the support and resistance areas of the range and if the USDCAD moves out of the range (break-out trade). If price breaks to the downside, the USDCAD could stall or reverse around the horizontal levels at 1.2805 and 1.2675.

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 durable goods orders figure will be announced at 1130 UTC today.

 

USDCHF – 1 Hour Chart

 

USDCHF - 26.04.2018

As suggested in yesterday’s chart analysis, price has reversed around the bullish channel support area. The USDCHF continues to uptrend within a bullish channel. Price is struggling to reach the channel resistance area, signalling that buying momentum is weakening and that the USDCHF may attempt a move below the channel support area. The bullish moving averages confirm this analysis – they are starting to tighten. A bearish move could find support around the moving averages and around the horizontal level at 0.9770.

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.

A US durable goods orders figure will be announced at 1130 UTC today.

 

USDJPY – 1 Hour Chart

 

USDJPY - 26.04.2018

The USDJPY has been bullish and is forming a swing higher (as suggested in yesterday’s chart analysis). Price continues to uptrend. The moving averages are bullish and steady, signalling that the uptrend could continue. Opportunities to go long may exist around the horizontal levels at 109.15 and 108.60 and 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. 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.

A US durable goods orders figure will be announced at 1130 UTC today. The Bank of Japan (BOJ) will release a monetary policy statement and a outlook report sometime between 0200-0600 UTC.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 26.04.2018

As suggested in yesterday’s chart analysis, GOLD has been bearish and has formed a swing lower. The moving averages are still bearish, signalling that price may attempt another bearish move. Shorting 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 1319.85.


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