TriumphFX Intraday Forex Analysis – 1 Hour Charts – October 04, 2019


 

AUDUSD – 1 Hour Chart

 

The AUDUSD has been down-trending and is currently in a retrace phase. Price has retraced above the moving averages and the moving averages are tightening, suggesting that AUDUSD may struggle to swing lower.

If price attempts to swing lower, buying opportunities could exist around the moving averages and around the horizontal levels at 0.6745, 0.6720 and 0.6670. A bullish move may stall or reverse around the horizontal resistance levels at 0.6775, 0.6800, 0.6810 and 0.6830.

The Reserve Bank of Australia (RBA) has cut rates again by 0.25% to 0.75% (a record low). The current low rate is needed to help reduce the unemployment rate and stimulate economy . It is likely that official rate will stay low and may even be cut further. The US Federal Open Market Committee (FOMC) has cut rates by a further 25 points due to heightened concerns regarding the economy and ongoing trade tensions with China. The current Fed Funds rate is 2.00%. Pressures of economic recession and from the US President may lead to further rate reductions.

US non-farm employment change and unemployment rate figures will be released at 1230 UTC today. The Chair for the Federal Reserve will speak at 1800 UTC.

 

EURGBP – 1 Hour Chart

 

As suggested in our last intraday analysis, EURGBP has reversed around the trend support area. Price has been up-trending but is starting to look indecisive. The moving averages confirm the current indecision – they are moving sideways.

Trading opportunities may exist around the trend support area and around any of the identified horizontal levels at 0.8790, 0.8805, 0.8850, 0.8905, 0.8920 and 0.8930.

The Bank of England (BOE) continues to hold interest rates at 0.75% – 50 base points higher than the 2016 & 2017 low of 0.25%. The official rate could see a limited and gradual increase if there is a smooth Brexit and economic indicators continue to show growth. The European Central Bank (ECB) have cut economic forecasts, some economists predicting that Europe is heading for recession. The official rate continues to be at the record low of 0.00%. This is likely to stay unchanged until the 2nd quarter of 2020.

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

 

EURUSD – 1 Hour Chart 

 

Price has reversed off the horizontal level at 1.0995 (as suggested in our last intraday analysis). The EURUSD has swung above the recent bearish channel and the moving averages are bullish and widening, all signalling that price may start up-trending.

Long opportunities could exist around the dynamic support of the moving averages, around the previous channel resistance area (as support) and around the horizontal levels at 1.0965, 1.0950 and 1.0905. A bullish move may stall or reverse around the horizontal levels at 1.0995, 1.1025 and 1.1075.

The European Central Bank (ECB) have cut economic forecasts, some economists predicting that Europe is heading for recession. The official rate continues to be at the record low of 0.00%. This is likely to stay unchanged until the 2nd quarter of 2020. The US Federal Open Market Committee (FOMC) has cut rates by a further 25 points due to heightened concerns regarding the economy and ongoing trade tensions with China. The current Fed Funds rate is 2.00%. Pressures of economic recession and from the US President may lead to further rate reductions.

US non-farm employment change and unemployment rate figures will be released at 1230 UTC today. The Chair for the Federal Reserve will speak at 1800 UTC.

 

GBPUSD – 1 Hour Chart

 

As suggested in our last intraday analysis, price found resistance around the bearish channel resistance area. The GBPUSD has since been bullish and has swung above the channel. The moving averages are bullish and steady, signalling that the upside momentum could continue.

Long opportunities may exist around the bullish moving averages, around the previous channel resistance area (as support) and around the horizontal levels at 1.2330, 1.2275 and 1.2205. A bullish move could be rejected or reverse around the horizontal levels at 1.2400, 1.2415 and 1.2505.

The Bank of England (BOE) continues to hold interest rates at 0.75% – 50 base points higher than the 2016 & 2017 low of 0.25%. The official rate could see a limited and gradual increase if there is a smooth Brexit and economic indicators continue to show growth. The US Federal Open Market Committee (FOMC) has cut rates by a further 25 points due to heightened concerns regarding the economy and ongoing trade tensions with China. The current Fed Funds rate is 2.00%. Pressures of economic recession and from the US President may lead to further rate reductions.

US non-farm employment change and unemployment rate figures will be released at 1230 UTC today. The Chair for the Federal Reserve will speak at 1800 UTC.

 

NZDUSD – 1 Hour Chart

 

NZDUSD has been bullish and is currently finding resistance around 0.6325 (as suggested in our last intraday analysis). Price is above the recent bearish channel and the moving averages have crossed bullish and are widening, all signalling that the NZDUSD may start up-trending.

Opportunities to go long could exist around the bullish moving averages and around the horizontal levels at 0.6270 and 0.6255. Price may be rejected or reverse around the horizontal resistance levels at 0.6325, 0.6345 and 0.6360.

The Reserve Bank of New Zealand (RBNZ) have cut rates further to a record low of 1.00%. Due to poor economic indicators, there are no forecast rate hikes in the near future. The US Federal Open Market Committee (FOMC) has cut rates by a further 25 points due to heightened concerns regarding the economy and ongoing trade tensions with China. The current Fed Funds rate is 2.00%. Pressures of economic recession and from the US President may lead to further rate reductions.

US non-farm employment change and unemployment rate figures will be released at 1230 UTC today. The Chair for the Federal Reserve will speak at 1800 UTC.

 

USDCAD – 1 Hour Chart 

 

The USDCAD has been bullish. Price has swung above the recent consolidation area and the moving averages are bullish and widening, all signalling that USDCAD could start up-trending.

If price starts retracing, buying opportunities may exist around the moving averages, around any of the key Fib levels and around the horizontal levels at 1.3305, 1.3300, 1.3285 and 1.3280. The USDCAD could continue to find resistance around the recent highs at 1.3340.

The US Federal Open Market Committee (FOMC) has cut rates by a further 25 points due to heightened concerns regarding the economy and ongoing trade tensions with China. The current Fed Funds rate is 2.00%. Pressures of economic recession and from the US President may lead to further rate reductions. The Bank of Canada (BOC) continues to raise interest rates at a steady pace. The current rate is 1.75% – it’s highest since December 2008. The economy is currently performing well and inflation targets are currently at their potential, meaning that the rate of 1.75% may not change in the near future.

A Canadian trade balance figure will be announced at 1230 UTC today. US non-farm employment change and unemployment rate figures will also be released at 1230 UTC today. The Chair for the Federal Reserve will speak at 1800 UTC.

 

USDCHF – 1 Hour Chart

 

As suggested in our last intraday analysis, price has continued to be bullish and uptrend. The USDCHF is up-trending. The moving averages are bullish and steady, signalling that the upside direction may continue.

Long opportunities could exist around the dynamic support of the moving averages, around the trend support area and around the horizontal levels at 0.9980, 0.9965, 0.9945 and 0.9925. A bullish move may be rejected or reverse around the horizontal resistance levels at 1.0015 and 1.0025.

The US Federal Open Market Committee (FOMC) has cut rates by a further 25 points due to heightened concerns regarding the economy and ongoing trade tensions with China. The current Fed Funds rate is 2.00%. Pressures of economic recession and from the US President may lead to further rate reductions. The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The Swiss economy was stagnant throughout late 2018 but has been showing signs of positive momentum in 2019. The Swiss Franc continues to be highly valued, especially due to the current global uncertainties around Brexit and the US. The SNB has announced that it will continue to intervene with in foreign exchange markets.

US non-farm employment change and unemployment rate figures will be released at 1230 UTC today. The Chair for the Federal Reserve will speak at 1800 UTC.

 

USDJPY – 1 Hour Chart

 

Price has been bearish and has moved lower (as suggested in our last intraday analysis). The USDJPY is forming a lower swing low and the moving averages are bearish and widening, all suggesting that price could start down-trending.

If USDJPY starts retracing, shorting opportunities may exist around the dynamic resistance of the moving averages, around any of the key Fib levels and around the horizontal levels at 107.00 and 107.50. A bearish move could find support around the recent lows at 106.65.

The US Federal Open Market Committee (FOMC)  has cut rates by a further 25 points due to heightened concerns regarding the economy and ongoing trade tensions with China. The current Fed Funds rate is 2.00%. Pressures of economic recession and from the US President may lead to further rate reductions. The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy was under-performing in 2018 but is currently seeing signs of moderate expansion.

US non-farm employment change and unemployment rate figures will be released at 1230 UTC today. The Chair for the Federal Reserve will speak at 1800 UTC.

 

XAUUSD – 1 Hour Chart

 

GOLD is indecisive and is lacking trend direction. The moving averages confirm the market indecision – they have been crossing frequently.

Trading opportunities could exist around the moving averages and around any of the identified horizontal levels at 1462, 1486, 1490, 1510, 1516 and 1534.

 

Start trading today with Triumph’s Forex MT4 trading platform – https://www.tfxi.com/ 

Hmm it appears like your website ate my first comment (it was extremely long) so I guess I’ll just sum it up what I submitted and say,
I’m thoroughly enjoying your blog. I as well am an aspiring
blog writer but I’m still new to everything. Do you have any helpful hints for newbie blog writers?

I’d certainly appreciate it.

Hello just wanted to give you a quick heads up. The words in your article seem to be running
off the screen in Internet explorer. I’m not sure if
this is a formatting issue or something to do with browser compatibility but I
thought I’d post to let you know. The design look great though!
Hope you get the issue fixed soon. Thanks

It’s the best time to make some plans for the future and it’s
time to be happy. I’ve read this post and if I could I want to suggest you some
interesting things or suggestions. Maybe you
could write next articles referring to this article.
I desire to read more things about it!

I believe this is among the such a lot significant info for me.
And i am happy studying your article. But should statement on some common issues, The
website style is wonderful, the articles is truly excellent :
D. Just right process, cheers

What i don’t realize is in fact how you are now not
actually a lot more smartly-appreciated than you might be right now.
You are very intelligent. You already know therefore significantly
in the case of this subject, produced me in my opinion consider it from so many various angles.
Its like men and women are not fascinated unless it’s
something to do with Lady gaga! Your individual stuffs
excellent. At all times handle it up!

19 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *