TriumphFX Intraday Forex – 1 Hour Charts – February 25, 2021


Previous analysis… https://analysis.tfxi.com/2021/02/24/triumphfx-intraday-forex-analysis-1-hour-charts-february-24-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in yesterday’s chart analysis, the AUDUSD reversed around the diagonal support area and has since been bullish.

Price is clearly up-trending – price action has formed a long series of higher swing highs and higher swing lows. The moving averages are bullish and steady, signalling that the trend may continue. The AUDUSD is starting to look over-extended on higher time-frames, suggesting a potential bearish retrace move.

Buying opportunities could exist around the dynamic support of the moving averages, around the diagonal support area and around 0.7890 and 0.7805.

The Reserve Bank of Australia (RBA) continue to keep the interest rate at the record low of 0.10%. The rate is currently forecast to stay the same until 2024.

The Federal Reserve have stated that the health risks associated with COVID will continue to weigh on economic activity, inflation and employment. The current rate is set at 0.25% (record lows). The Fed have suggested that rates may remain low until economic indicators show satisfactory improvement. They have stated that lowering the unemployment rate and improving other key economic indicators is not going to be an easy task.

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

EURGBP

EURGBP 1 Hour Chart

The EURGBP has been finding resistance around the trend resistance area and longer-term moving average, as suggested in yesterday’s chart analysis.

Price has been clearly down-trending – price action has formed a series of lower swing highs and lower swing lows. The moving averages are bearish and steady, signalling that the downside direction could continue.

Selling opportunities may exist around the longer-term moving average, around the trend resistance area and around the horizontal level at 0.8635. A bearish move could stall or reverse around the shorter-term moving average and around the recent swing low at 0.8565.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. The ECB have hinted at providing more economic stimulus, if needed.

The Bank of England (BOE) continue to keep rates at the record low at 0.10%. Recent economic figures have been more positive than expected. With the rollout of vaccines and the ease of lockdowns on the horizon, the BOE expect an economic rebound from April 2021.

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

EURUSD

EURUSD 1 Hour Chart

As suggested in yesterday’s chart analysis, price has been bullish and has swung higher.

The EURUSD was moving sideways but is now up-trending again. Price has swung above the recent consolidation area and the moving averages are bullish and steady, suggesting that the trend 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 1.2175, 1.2120 and 1.2100.

The Federal Reserve have stated that the health risks associated with COVID will continue to weigh on economic activity, inflation and employment. The current rate is set at 0.25% (record lows). The Fed have suggested that rates may remain low until economic indicators show satisfactory improvement. They have stated that lowering the unemployment rate and improving other key economic indicators is not going to be an easy task.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. The ECB have hinted at providing more economic stimulus, if needed.

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

GBPUSD

GBPUSD 1 Hour Chart

Price has reversed around the 38.2% Fib level, as suggested in yesterday’s chart analysis.

The GBPUSD is clearly up-trending. The moving averages are bullish and steady, signalling that the uptrend could continue. Price is also up-trending on higher time-frames, but is starting to looking over-extended, suggesting a potential bearish move.

Opportunities to go long may exist around the dynamic support of the moving averages, around any of the key Fib levels, around the trend support area and around the horizontal levels at 1.4090 and 1.4055. The GBPUSD could be rejected or reverse around the recent swing high at 1.4190.

The Federal Reserve have stated that the health risks associated with COVID will continue to weigh on economic activity, inflation and employment. The current rate is set at 0.25% (record lows). The Fed have suggested that rates may remain low until economic indicators show satisfactory improvement. They have stated that lowering the unemployment rate and improving other key economic indicators is not going to be an easy task.

The Bank of England (BOE) continue to keep rates at the record low at 0.10%. Recent economic figures have been more positive than expected. With the rollout of vaccines and the ease of lockdowns on the horizon, the BOE expect an economic rebound from April 2021.

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

USDCAD

USDCAD 1 Hour Chart

As suggested in our last analysis, USDCAD has been bearish and has swung lower.

Price is clearly down-trending. The moving averages are bearish and steady, signalling that the downtrend may continue.

Shorting opportunities could exist around the dynamic resistance of the moving averages, around the previous diagonal support area (as resistance) and around 1.2640.

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The spread of COVID-19 continues to severely impact the Canadian economy. The BOC are expecting economic indicators to improve from April 2021.

The Federal Reserve have stated that the health risks associated with COVID will continue to weigh on economic activity, inflation and employment. The current rate is set at 0.25% (record lows). The Fed have suggested that rates may remain low until economic indicators show satisfactory improvement. They have stated that lowering the unemployment rate and improving other key economic indicators is not going to be an easy task.

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

USDCHF 

USDCHF 1 Hour Chart

USDCHF has been bullish and has swung higher, as suggested in yesterday’s chart analysis.

Price is in a retrace move and is currently finding support around 0.9045 and the 38.2% Fib level. The moving averages are bullish and widening, signalling that the uptrend could continue.

Buying opportunities may exist around the longer-term moving average, around any of the key Fib levels and around the horizontal levels at 0.9045, 0.9015 and 0.8990. A bullish move could find resistance around 0.9090.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022.

The Federal Reserve have stated that the health risks associated with COVID will continue to weigh on economic activity, inflation and employment. The current rate is set at 0.25% (record lows). The Fed have suggested that rates may remain low until economic indicators show satisfactory improvement. They have stated that lowering the unemployment rate and improving other key economic indicators is not going to be an easy task.

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

USDJPY

USDJPY 1 Hour Chart

As suggested in our last chart analysis, price has been reversing around the horizontal levels at 105.80 and 106.15.

USDJPY continues to be indecisive and lack trend direction. The moving averages confirm the current indecision – they have been crossing frequently and are moving sideways. If price closes above the consolidation highs at 106.15, USDJPY may attempt a bullish move higher.

Trading opportunities could exist around the moving averages and around the horizontal levels at 105.80 and 106.15.

The Federal Reserve have stated that the health risks associated with COVID will continue to weigh on economic activity, inflation and employment. The current rate is set at 0.25% (record lows). The Fed have suggested that rates may remain low until economic indicators show satisfactory improvement. They have stated that lowering the unemployment rate and improving other key economic indicators is not going to be an easy task.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is performing well under the current COVID-19 economic crisis, relative to other 1st world countries.

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

XAUUSD

XAUUSD 1 Hour Chart

Price has become indecisive again.

GOLD is lacking trend momentum and is currently choppy and moving sideways. The moving averages confirm the market indecision – they are tightening and moving sideways.

Trading opportunities may exist around the moving averages and around the horizontal levels at 1767, 1785, 1815 and 1828.

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