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


 

AUDUSD – 1 Hour Chart

 

AUDUSD - 25.06.2018

As suggested in Friday’s chart analysis, the AUDUSD closed above the range resistance area and has since been bullish. Price is above the recent consolidation area and the moving averages have crossed bullish, all signalling that the AUDUSD may move higher. Buying opportunities could exist around the previous support and resistance areas of the range and around the dynamic support of the moving averages. A bullish move may stall or reverse around the horizontal levels at 0.7440 and 0.7555.

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 consumer confidence figure will be announced at 1400 UTC today.

 

EURGBP – 1 Hour Chart

 

EURGBP - 26.06.2018

The EURGBP reversed around the horizontal resistance at 0.8800 (as suggested in Friday’s chart analysis). Price has since been bullish and has moved higher. The EURGBP continues to be choppy and indecisive. The moving averages confirm the market indecision – they have been crossing frequently. Trading opportunities may exist around the identified horizontal levels at 0.8720, 0.8725, 0.8800, 0.8825 and 0.8830 and around 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% and plan to increase rates again in the very 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 economic 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.

 

EURUSD – 1 Hour Chart 

 

EURUSD - 26.06.2018

Price has been bullish. The EURUSD is above a number of key resistance levels and the moving averages are bullish and widening, all suggesting that price may move higher. Long opportunities could exist around the horizontal levels at 1.1670, 1.1640 and 1.1595 and around the dynamic support of the moving averages. A move higher may be rejected or reverse around the horizontal levels at 1.1735 and 1.1835.

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.

A US consumer confidence figure will be announced at 1400 UTC today.

 

GBPUSD – 1 Hour Chart

 

GBPUSD - 26.06.2018

As suggested in Friday’s chart analysis, price reversed around the horizontal level at 1.3325. The GBPUSD continues to be indecisive. The moving averages are moving sideways – confirming the market indecision. Trading opportunities may exist around the moving averages and around the horizontal levels at 1.3105, 1.3210, 1.3235, 1.3310, 1.3325 and 1.3440.

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% and plan to increase rates again in the very 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 consumer confidence figure will be announced at 1400 UTC today.

 

NZDUSD – 1 Hour Chart

 

NZDUSD - 26.06.2018

The NZDUSD reversed off the horizontal level at 0.6920 (as suggested in Friday’s chart analysis). Price has become indecisive and is lacking trend momentum. The moving averages are tight and are moving sideways – confirming the current indecision. Trading opportunities could exist around the horizontal levels at 0.6825 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.

A US consumer confidence figure will be announced at 1400 UTC today. This is followed by a New Zealand business confidence figure at 0100 UTC.

 

USDCAD – 1 Hour Chart

 

USDCAD - 26.06.2018

The USDCAD has been moving sideways. The moving averages confirm the lack of trend direction – they are tight and are moving sideways. Price is ranging between the horizontal levels at 1.3260 and 1.3340. 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). A break to the downside could stall or reverse around the horizontal levels at 1.3200 and 1.3160.

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 consumer confidence figure will be announced at 1400 UTC today.

 

USDCHF – 1 Hour Chart

 

USDCHF - 26.06.2018

Price continues to be indecisive. Trading opportunities could exist around the identified horizontal levels at 0.9800, 0.9825, 0.9890, 0.9915 and 0.9985. The moving averages are bearish and widening, signalling that the USDCHF may attempt a bearish move lower. Selling opportunities could exist around the dynamic resistance of the moving averages.

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 consumer confidence figure will be announced at 1400 UTC today.

 

USDJPY – 1 Hour Chart 

 

USDJPY - 26.06.2018

Just like most other USD pairs, the USDJPY is indecisive. The moving averages have been crossing frequently – confirming the market indecision. Trading opportunities may exist around the horizontal levels at 109.25, 109.40, 109.85, 110.70 and 110.90. Shorting opportunities could exist around the bearish moving averages.

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 consumer confidence figure will be announced at 1400 UTC today.

 

XAUUSD – 1 Hour Chart

 

XAUUSD - 26.06.2018

As suggested in Friday’s chart analysis, GOLD reversed around the longer-term moving average and has since been bearish. Price has been down-trending but is now ranging between the horizontal levels at 1262.85 and 1271.95. The moving averages confirm the indecision – they are tightening and are moving sideways. Trading opportunities may exist around the support and resistance areas of the range and if GOLD moves out of the range (break-out trade). If price breaks to the downside, GOLD could continue to downtrend. If price breaks to the upside, GOLD could stall or reverse around the horizontal levels at 1276.50 and 1283.85.