TriumphFX Intraday Forex Analysis – 1 Hour Charts – June 21, 2018


USDCAD - 21.06.2018

 

AUDUSD – 1 Hour Chart

 

AUDUSD - 21.06.2018

As suggested in yesterday’s chart analysis, the AUDUSD has been bearish and is forming a swing lower. Price is down-trending. The moving averages are bearish and steady, signalling that the downside momentum may continue. Selling opportunities could exist around the horizontal levels at 0.7360 and 0.7400 and around the dynamic resistance of the moving averages. The AUDUSD is looking a little over-extended, suggesting that price may be due a bullish retrace move.

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.

There is no major scheduled news today that will directly impact this currency pair.

 

EURGBP – 1 Hour Chart

 

EURGBP - 21.06.2018

The EURGBP continues to be indecisive and lack trend momentum. The moving averages confirm the current indecision – they have been crossing frequently and are currently moving sideways. Trading opportunities may exist around the diagonal resistance area and around the horizontal levels at 0.8720, 0.8760, 0.8770, 0.8800, 0.8825 and 0.8830.

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 BOE will announce the official bank rate and release a monetary policy summary at 1100 UTC today.

 

EURUSD – 1 Hour Chart 

 

EURUSD - 21.06.2018

As suggested in yesterday’s chart analysis, price has been reversing off the horizontal level at 1.1540. The EURUSD is looking indecisive. Trading opportunities could exist around the horizontal levels at 1.1540, 1.1595, 1.1640, 1.1650 and 1.1735. The moving averages are bearish and widening, signalling that price may attempt a bearish move lower.

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.

There is no major scheduled news today that will directly impact this currency pair.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 21.06.2018

Price has been bearish and is moving lower (as suggested in yesterday’s chart analysis). The GBPUSD is down-trending. The moving averages are bearish and widening, signalling that the downtrend could continue. Shorting opportunities may exist around the horizontal levels at 1.3155, 1.3210 and 1.3225, around the dynamic resistance of the moving averages and around the identified 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 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 BOE will announce the official bank rate and release a monetary policy summary at 1100 UTC today.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 21.06.2018

As suggested in yesterday’s chart analysis, the NZDUSD has been bearish and continues to downtrend. The moving averages are bearish and steady, signalling that the selling momentum may continue. Opportunities to go short could exist around the dynamic resistance of the moving averages and around the horizontal levels at 0.6885 and 0.6920.

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.

There is no major scheduled news today that will directly impact this currency pair.

 

USDCAD – 1 Hour Chart

 

USDCAD - 21.06.2018

The USDCAD has continued to be bullish and swing higher (as suggested in yesterday’s chart analysis). Price is up-trending. The moving averages are bullish and steady, suggesting that the uptrend could continue. Buying opportunities may exist around the dynamic support of the moving averages and around the horizontal levels at 1.3200 and 1.3160. The USDCAD is looking a little over-extended, suggesting that price could be due a bearish retrace move.

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.

There is no major scheduled news today that will directly impact this currency pair.

 

USDCHF – 1 Hour Chart

 

USDCHF - 21.06.2018

Price continues to be indecisive. The moving averages are tight and are moving sideways – confirming the market indecision. Trading opportunities could exist around the horizontal levels at 0.9985, 0.9915, 0.9910 and 0.9890. If the USDCHF closes above the resistance at 0.9985, price may attempt a bullish move higher.

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.

The Swiss National Bank (SNB) will release a monetary policy assessment at 0730 UTC today. This is followed by a press conference at 0830 UTC.

 

USDJPY – 1 Hour Chart 

 

USDJPY - 21.06.2018

Price has been bullish and is now looking indecisive. The moving averages confirm the indecision – they are tight and are moving sideways. The USDJPY is ranging between the horizontal support at 109.55 and the horizontal resistance at 110.90. Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade).

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.

There is no major scheduled news today that will directly impact this currency pair.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 21.06.2018

As suggested in yesterday’s chart analysis, GOLD reversed around the horizontal level at 1276.50 and has since been bearish. Price continues to be bearish and downtrend. The moving averages are bearish and steady, signalling that the downtrend may continue. Selling opportunities could exist around the dynamic resistance of the moving averages and around the horizontal levels at 1272.40, 1276.50 and 1283.85.


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