TriumphFX Intraday Forex Analysis – 1 Hour Charts – June 14, 2018


USDCHF - 14.06.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 14.06.2018

As suggested in yesterday’s chart analysis, price reversed around the trend resistance area and then was rejected at the horizontal support at 0.7525. The AUDUSD continues to be bearish and downtrend. The moving averages are bearish and steady, signalling that the downtrend could continue. Opportunities to go short may exist around the dynamic resistance of the moving averages, around the trend resistance area and around the horizontal resistance levels at 0.7605 and 0.7620. A bearish move could stall or reverse around the horizontal support levels at 0.7525 and 0.7480.

The Reserve Bank of Australia (RBA) have held the official interest rate at 1.5% for over 18 months. The Australian economy continues to grow at a steady pace and produce positive economic indicators under the low interest rate – giving incentive to keep the rate as it is.  The US Federal Open Market Committee (FOMC)  recently raised rates to 2.00%. 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 retail sales figures will be announced at 1230 UTC today.

 

EURGBP – 1 Hour Chart

 

EURGBP - 14.06.2018

The EURGBP continues to be indecisive and range between the horizontal levels at 0.8760 and 0.8830. 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 and steady, suggesting that price may break to the upside. Opportunities to go long could exist around the moving averages and around the identified diagonal support area.

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%. There are hints that the Bank of England (BOE) will hike the interest rate 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 – the euro-zone economy is performing well. Recent comments by the ECB have been fairly dovish though. Most economists believe that the current economy boom will slow-down and that an interest rate hike is not in the near future.

A UK retail sales figure will be released at 0830 UTC today. The ECB will announce the official rate at 1145 UTC. This is followed by a press conference at 1230 UTC.

 

EURUSD – 1 Hour Chart

 

EURUSD - 14.06.2018

As suggested in yesterday’s chart analysis, price has started ranging between the horizontal support at 1.1735 and the horizontal resistance at 1.1805. The moving averages confirm the indecision – they are tight and are moving sideways. Trading opportunities may exist around the support and resistance areas of the range and if the EURUSD moves out of the range (break-out trade). A break to the upside could find resistance around 1.1835. A break to the downside could find support around 1.1650.

The US Federal Open Market Committee (FOMC)  recently raised rates to 2.00%. 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 – the euro-zone economy is performing well. Recent comments by the ECB have been fairly dovish though. Most economists believe that the current economy boom will slow-down and that an interest rate hike is not in the near future.

The ECB will announce the official rate at 1145 UTC. This is followed by a ECB press conference and US retail sales figures at 1230 UTC.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 14.06.2018

Price found support around the channel support area and the horizontal level at 1.3305 (as suggested in yesterday’s chart analysis). The GBPUSD has been down-trending within a bearish channel. Price is attempting a move above the channel resistance area, signalling that the downside momentum may becoming to an end – the moving averages are tightening and moving sideways, confirming this. Trading opportunities could exist around the support and resistance areas of the bearish channel, around the moving averages and around the horizontal levels at 1.3230, 1.3260, 1.3305, 1.3420, 1.3430 and 1.3475.

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%. There are hints that the Bank of England (BOE) will hike the interest rate again in the near future. The US Federal Open Market Committee (FOMC)  recently raised rates to 2.00%. 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 retail sales figure will be released at 0830 UTC today. US retail sales figures will be announced at 1230 UTC.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 14.06.2018

The NZDUSD continues to be indecisive and move within the horizontal channel at 0.7000-0.7055. The moving averages confirm the current indecision – they are tight and are moving sideways. Trading opportunities may exist around the support and resistance areas of the horizontal channel and if price closes out of the channel (break-out trade). A move to the downside could be rejected or reverse around the horizontal support level at 0.6960.

The Reserve Bank of New Zealand (RBNZ) recently kept rates at 2.00% and announced that there will unlikely be a rate hike in the foreseeable future – there is some economic uncertainty caused by New Zealand’s GDP and CPI figures. 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 retail sales figures will be announced at 1230 UTC today.

 

USDCAD – 1 Hour Chart

 

USDCAD - 14.06.2018

The USDCAD has reversed bearish off the horizontal resistance at 1.3040. Price continues to be choppy and indecisive. The moving averages are tight and are moving sideways – confirming the market indecision. Trading opportunities could exist around the horizontal levels at 1.2825, 1.2865, 1.2920, 1.2955 and 1.3040. If the USDCAD tests the horizontal resistance at 1.3040 again, the resistance is likely to break – price may move higher.

The Bank of Canada (BOC) recently raised rates to 1.25%. A recent rally on the oil markets has given some strength to the Canadian Dollar. Economists believe that the BOC will increase the interest rate at least 1 more time before the end of 2018. The US Federal Open Market Committee (FOMC)  recently raised rates to 2.00%. 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 retail sales figures will be announced at 1230 UTC today.

 

USDCHF – 1 Hour Chart

 

USDCHF - 14.06.2018

As suggested in yesterday’s chart analysis, price reversed around the horizontal resistance at 0.9890. The USDCHF continues to be indecisive. The moving averages are tight and are moving sideways – confirming the market indecision. Price action has formed a horizontal channel at 0.9835-0.9890. Trading opportunities may exist around the support and resistance areas of the horizontal channel and if the USDCHF moves out of the channel (break-out trade). A break to the upside could stall or reverse around the horizontal resistance at 0.9910. A break to the downside could stall or reverse around the horizontal support at 0.9800.

The US Federal Open Market Committee (FOMC)  recently raised rates to 2.00%. 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 retail sales figures will be announced at 1230 UTC today.

 

USDJPY – 1 Hour Chart 

 

USDJPY - 14.06.2018

Price continues to uptrend within a bullish channel. The USDJPY is currently retracing. The moving averages are bullish, suggesting that the uptrend may continue. Buying opportunities could exist around the channel support area and around the horizontal support levels at 109.25 and 109.05. A bullish move may stall or reverse around the horizontal resistance at 110.65 and the channel resistance area.

The US Federal Open Market Committee (FOMC)  recently raised rates to 2.00%. 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. The Bank of Japan (BOJ) has not changed the official interest rate since early 2016. Economic indicators for Japan continue to show signs of moderate growth.

US retail sales figures will be announced at 1230 UTC today.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 14.06.2018

As suggested in yesterday’s chart analysis, GOLD has reversed around the horizontal channel support area. Price continues to be indecisive and move within a horizontal channel at 1293.90-1301.45. The moving averages are tight and moving sideways – confirming the market indecision. Trading opportunities may exist around the support and resistance areas of the horizontal channel and if GOLD closes out of the channel. A break to the upside could reverse around the horizontal resistance levels at 1305.60 and 1307.50. A break to the downside could reverse around the horizontal support levels at 1290.50 and 1289.45.


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