TriumphFX Intraday Forex Analysis – 1 Hour Charts – June 19, 2018


GBPUSD - 19.06.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 19.06.2018

As suggested in yesterday’s chart analysis, the AUDUSD has continued to be bearish and move lower. The moving averages are bearish and steady, signalling that the downside momentum may continue. Price is looking a little over-extended, suggesting that the AUDUSD may be due a bullish retrace move. If price does start retracing, selling opportunities could exist around the dynamic resistance of the moving averages and around the previous horizontal support levels at 0.7480 and 0.7530.

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.

A US building permits figure will be announced at 1230 UTC today.

 

EURGBP – 1 Hour Chart

 

EURGBP - 19.06.2018

The EURGBP has reversed at the 50.0% Fib level and the previous support at 0.8780 (as suggested in yesterday’s chart analysis). Price is now looking a little indecisive. The moving averages confirm this – they are tightening and are moving sideways. Trading opportunities may exist around the horizontal levels at 0.8700, 0.8720, 0.8765, 0.8780, 0.8825 and 0.8830 and around the diagonal resistance 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.

The President of the ECB will speak at 0800 UTC today.

 

EURUSD – 1 Hour Chart

 

EURUSD - 19.06.2018

As suggested in yesterday’s chart analysis, price has become bearish and is attempting to swing lower. The moving averages are bearish, signalling that the selling momentum may continue. Shorting opportunities could exist around the dynamic resistance of the moving averages and around the horizontal levels at 1.1640, 1.1650 and 1.1655. A bearish move may find support around the horizontal levels at 1.1560 and 1.1525.

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 President of the ECB will speak at 0800 UTC today. A US building permits figure will be announced at 1230 UTC.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 19.06.2018

Price reversed again at the previous bearish channel support area and has swung lower (as suggested in yesterday’s chart analysis). The GBPUSD continues to be bearish. The moving averages are bearish and steady, signalling that the downside momentum could continue. Opportunities to go short may exist around the previous horizontal support at 1.3225, around the diagonal resistance area 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%. 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 US building permits figure will be announced at 1230 UTC today.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 19.06.2018

As suggested in yesterday’s chart analysis, the NZDUSD reversed around the shorter-term moving average and has since been bearish. The moving averages are bearish and widening, signalling that price may continue to move lower. Selling opportunities could exist around the previous horizontal support at 0.6920 and around the dynamic resistance of the moving averages. The NZDUSD may find support around the recent lows at 0.6885.

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.

A US building permits figure will be announced at 1230 UTC today.

 

USDCAD – 1 Hour Chart

 

USDCAD - 19.06.2018

The USDCAD has been bullish and is forming a swing higher (as suggested in yesterday’s chart analysis). The moving averages are bullish and widening, signalling that the upside momentum could continue. If price starts retracing, buying opportunities may exist around the horizontal levels at 1.3200 and 1.3160 and around the dynamic support of the moving averages.

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.

A US building permits figure will be announced at 1230 UTC today.

 

USDCHF – 1 Hour Chart

 

USDCHF - 19.06.2018

As suggested in yesterday’s chart analysis, price closed below the range support area and then became bearish. Even though the USDCHF has moved out of the recent range, price 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 0.9800, 0.9830, 0.9890, 0.9910, 0.9950 and 0.9985.

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.

A US building permits figure will be announced at 1230 UTC today.

 

USDJPY – 1 Hour Chart 

 

USDJPY - 19.06.2018

Price has been bearish and has swung below key support areas. The USDJPY is now indecisive and lacking trend direction. The moving averages confirm this – they are tight and are moving sideways. Trading opportunities may exist around the horizontal levels at 108.25, 108.45, 109.05, 109.25, 109.90 and 110.90, around the moving averages and around the previous bullish channel support area (as resistance).

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.

A US building permits figure will be announced at 1230 UTC today.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 19.06.2018

As suggested in yesterday’s chart analysis, GOLD has reversed around the 23.6% Fib level and the shorter-term moving average. Price is still below the recent consolidation area and the moving averages are bearish and widening, all signalling that GOLD may attempt to swing lower. Shorting opportunities could exist around any of the key Fib levels, around the dynamic resistance of the moving averages and around the previous horizontal support levels at 1290.50 and 1293.90. A bearish move may be rejected or reverse around the recent swing low at 1276.50.


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