TriumphFX Intraday Forex Analysis – 1 Hour Charts – April 27, 2018


GBPUSD - 27.04.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 27.04.2018

As suggested in yesterday’s chart analysis, price reversed around the shorter-term moving average and has since been bearish. The AUDUSD is down-trending and has formed a bearish channel. The moving averages are bearish and steady, signalling that the down-trend could continue. Opportunities to go short may exist around the previous horizontal support levels at 0.7560 and 0.7595, around the moving averages and around the bearish channel resistance area. The AUDUSD could find support 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.

A US advanced GDP figure will be released at 1230 UTC today.

 

EURGBP – 1 Hour Chart

 

EURGBP - 27.04.2018

Price reversed around the diagonal resistance area and the longer-term moving average (as suggested in yesterday’s chart analysis). The EURGBP has since found support around the horizontal support at 0.8690 (as also suggested). The moving averages are bearish and are widening, suggesting that price may continue to be bearish. Selling opportunities could exist around the dynamic resistance of the moving averages, around the previous horizontal support at 0.8740 and around the diagonal resistance area. The EURGBP may stall or reverse around the horizontal levels at 0.8690, 0.8670 and 0.8620.

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.

A UK preliminary GDP figure will be announced at 0830 UTC today. This is followed by a speech by the Governor of the Bank of England at 1400 UTC.

 

EURUSD – 1 Hour Chart

 

EURUSD - 27.04.2018

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 downside momentum could continue. Selling opportunities may exist around the horizontal levels at 1.2160 and 1.2195, around the dynamic resistance of the moving averages and around the trend resistance 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.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.

A US advanced GDP figure will be released at 1230 UTC today.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 27.04.2018

The GBPUSD has reversed around the horizontal resistance at 1.3995 (as suggested in yesterday’s chart analysis). Price is now ranging between the horizontal levels at 1.3905 and 1.3995. Trading opportunities could exist around the support and resistance areas of the range and if the GBPUSD moves out of the range (break-out trade). The moving averages are bearish, signalling that price may break to the downside.

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 UK preliminary GDP figure will be announced at 0830 UTC today. A US advanced GDP figure will be released at 1230 UTC. This is followed by a speech by the Governor of the Bank of England at 1400 UTC.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 27.04.2018

As suggested in yesterday’s chart analysis, price was bullish and then reversed around the shorter-term moving average. The NZDUSD continues to move lower. The moving averages are bearish, suggesting that the downside momentum could continue. Shorting opportunities may exist around the moving averages and around the horizontal resistance at 0.7085. Price continues to look over-extended, suggesting that the NZDUSD is due a bullish retrace move.

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 advanced GDP figure will be released at 1230 UTC today.

 

USDCAD – 1 Hour Chart

 

USDCAD - 27.04.2018

Price has reversed around the range support area (as suggested in yesterday’s chart analysis). The USDCAD continues to range between the horizontal support at 1.2820 and the horizontal resistance at 1.2890. Trading opportunities could exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). The moving averages are bullish, suggesting that the USDCAD may break to the upside.

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 advanced GDP figure will be released at 1230 UTC today.

 

USDCHF – 1 Hour Chart

 

USDCHF - 27.04.2018

The USDCHF continues to be bullish and uptrend within a bullish channel. The moving averages are bullish, signalling that the uptrend could continue. Buying opportunities may exist around the bullish channel support area, around the dynamic support of the moving averages and around the horizontal levels at 0.9845 and 0.9820. The USDCHF could be rejected or reverse off the channel resistance 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. 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.

The Chairman of the Swiss National Bank (SNB) will speak at 0800 UTC today. A US advanced GDP figure will be released at 1230 UTC.

 

USDJPY – 1 Hour Chart

 

USDJPY - 27.04.2018

Price has been up-trending. The USDJPY is now moving within a tight horizontal channel at 109.15-109.45. 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). The moving averages are bullish, signalling that the USDJPY may break to the upside. If price breaks to the downside, price may find support around the horizontal levels at 108.60 and 107.70.

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 advanced GDP figure will be released at 1230 UTC today.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 27.04.2018

As suggested in yesterday’s chart analysis, price reversed around the shorter-term moving average and has swung lower. GOLD is below the recent consolidation area and the moving averages are bearish, all signalling that the selling momentum could continue. Opportunities to go short may exist around the horizontal levels at 1319.85, 1325.25 and 1332.00, around the trend resistance area and around the dynamic resistance of the moving averages.