TriumphFX Intraday Forex Analysis – 1 Hour Charts – June 15, 2021


Previous analysis… https://analysis.tfxi.com/2021/06/14/triumphfx-intraday-forex-analysis-1-hour-charts-june-14-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in yesterday’s chart analysis, price has been reversing around 0.7695 and 0.7720.

AUDUSD continues to be indecisive and lack trend direction. The moving averages confirm the market indecision – they have been crossing frequently. Price action is forming a potential inverted head and shoulder pattern on higher time-frames, suggesting a potential bullish move.

Trading opportunities may exist around the moving averages and around the horizontal levels at 0.7645, 0.7680, 0.7695, 0.7720, 0.7765 and 0.7790.

The Reserve Bank of Australia (RBA) continue to keep the official interest rate at the record low of 0.10%. The rate is currently forecast to stay the same until 2024. Unemployment rates are expected to over coming months. An unemployment rate of 6% is expected for the end of 2021.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The US economy is bouncing back quicker than expected originally.

US retail sales and PPI figures will be released at 1230 UTC today.

EURGBP

EURGBP 1 Hour Chart

Price has been moving sideways, as suggested in yesterday’s chart analysis.

EURGBP continues to be indecisive and move within the large horizontal channel at 0.8570-0.8640. The moving averages confirm the current indecision – they have been crossing frequently.

Trading opportunities could exist around the support and resistance areas of the range and if price moves out of the range (break-out trade).

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 a strong economic rebound during 2021.

The Governor of the BOE will speak at 1215 UTC today.

EURUSD

EURUSD 1 Hour Chart

EURUSD is currently bullish.

Price action recently formed a large bearish move and has since been retracing. EURUSD is below the recent consolidation and the moving averages are bearish and widening, signalling a potential downtrend.

Selling opportunities may exist around the bearish moving averages, around the trend resistance area and around the horizontal levels at 1.2135, 1.2150, 1.2200 and 1.2215. A bearish move could stall or reverse around the shorter-term moving average and around the recent lows at 1.2095.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The US economy is bouncing back quicker than expected originally.

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.

US retail sales and PPI figures will be released at 1230 UTC today.

GBPUSD

GBPUSD 1 Hour Chart

As suggested in yesterday’s chart analysis, GBPUSD reversed around the horizontal channel support area.

Price continues to be indecisive and range between 1.4085-1.4190. The moving averages have been crossing frequently – confirming the indecision.

Trading opportunities could exist around the support and resistance areas of the horizontal channel and if GBPUSD moves out of the channel (break-out trade). A break to the upside may find resistance around 1.4215 and 1.4240.

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 a strong economic rebound during 2021.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The US economy is bouncing back quicker than expected originally.

The Governor of the BOE will speak at 1215 UTC today. US retail sales and PPI figures will be released at 1230 UTC today.

USDCAD

USDCAD 1 Hour Chart

Price has been finding support around 1.2130, as suggested in our last chart analysis.

The USDCAD is up-trending and is currently in a retrace move. The moving averages are bullish and widening, signalling that the uptrend could continue. Price is moving within a bullish channel.

Buying opportunities may exist around the dynamic support of the moving averages, around the bullish channel support area and around the horizontal levels at 1.2130, 1.2120, 1.2085, 1.2060 and 1.2030. A bullish move could be rejected or reverse around the shorter-term moving average, around the recent highs at 1.2170 and around the bullish channel resistance area.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The US economy is bouncing back quicker than expected originally.

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The BOC are expecting economic indicators to improve from April 2021 but have confessed that there is a great deal of uncertainty around the current pandemic and the path to economic recovery and growth.

US retail sales and PPI figures will be released at 1230 UTC today.

USDCHF 

USDCHF 1 Hour Chart

As suggested in our last chart analysis, price has reversed around 0.9005.

The USDCHF continues to be indecisive and lack trend direction. The moving averages confirm the market indecision – they have been crossing frequently.

Trading opportunities could exist around the moving averages and around the horizontal levels at 0.8930, 0.8935, 0.8970, 0.9005, 0.9020, 0.9030 and 0.9050.

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 SNB are expecting economic growth from the 2nd quarter of 2021.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The US economy is bouncing back quicker than expected originally.

US retail sales and PPI figures will be released at 1230 UTC today.

USDJPY

USDJPY 1 Hour Chart

The USDJPY reversed around the moving averages and has been bullish, as suggested in out last chart analysis.

Price has swung higher, signalling a potential uptrend. The moving averages confirm this – they are bullish and widening.

Long opportunities may exist around the dynamic support of the moving averages, around the support and resistance areas of the previous bullish channel and around the horizontal levels at 109.85, 109.30 and 109.20. A bullish move could stall or reverse around 110.20 and 110.30.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The US economy is bouncing back quicker than expected originally.

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.

US retail sales and PPI figures will be released at 1230 UTC today.

XAUUSD

XAUUSD 1 Hour Chart

As suggested in our last analysis, GOLD has swung lower.

Price is currently in a retrace move. The moving averages are bearish and GOLD is below the recent consolidation area, all suggesting that price may start down-trending.

Shorting opportunities could exist around the dynamic resistance of the moving averages, around any of the key Fib levels and around 1875. A bearish move may find support around 1860 and 1848.

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