TriumphFX Intraday Forex Analysis – 1 Hour Charts – June 17, 2021


Previous analysis… https://analysis.tfxi.com/2021/06/16/triumphfx-intraday-forex-analysis-1-hour-charts-june-16-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in our last analysis, price reversed around the longer-term moving average and has swung lower.

AUDUSD is 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 downtrend could continue.

Selling opportunities may exist around the dynamic resistance of the moving averages and around the horizontal levels at 0.7645, 0.7675, 0.7720 and 0.7765. An attempt to swing lower could stall or reverse around the recent lows at 0.7605.

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.

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

EURGBP

EURGBP 1 Hour Chart

Price has been bearish, as suggested in our last chart analysis.

EURGBP has closed below the recent consolidation area, suggesting a potential downtrend. Price is slightly bearish on higher time-frames, adding confidence to the potential trend. The moving averages continue to move sideways though, signalling market indecision.

Shorting opportunities could exist around the moving averages, around the bearish channel resistance area and around the horizontal levels at 0.8570 and 0.8620. A bearish move may find support around the bearish channel support area.

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.

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

EURUSD

EURUSD 1 Hour Chart

As suggested in yesterday’s analysis, EURUSD reversed around the longer-term moving average and has since been bearish.

Price is clearly down-trending and is currently attempting to close lower. The moving averages are bearish and steady, signalling that the downtrend could continue.

Opportunities to go short may exist around any of the key Fib levels, around the moving averages and around the trend 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 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

GBPUSD reversed around the longer-term moving average and has since been bearish, as suggested in our last chart analysis.

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

Selling opportunities could exist around the bearish moving averages and around any of the horizontal levels at 1.4040, 1.4085 and 1.4120.

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.

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

USDCAD

USDCAD 1 Hour Chart

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

The USDCAD is clearly up-trending. The moving averages are bullish and steady, signalling that the uptrend could continue.

Buying opportunities may exist around any of the key Fib levels, around the dynamic support of the moving averages and around the trend support area. Price could find resistance around the recent highs at 1.2290.

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.

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

USDCHF 

USDCHF 1 Hour Chart

Price moved above the range resistance area and has since been bullish, as suggested in yesterday’s chart analysis.

The USDCHF has swung above the recent consolidation area, signalling a potential uptrend. The moving averages confirm this – they are bullish and steady.

Long opportunities could exist around the dynamic support of the moving averages and around any of the previous horizontal resistance levels at 0.9050, 0.9030, 0.9020 and 0.9005.

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.

The SNB will release a monetary policy statement at 0730 UTC today. This is followed by a press conference at 0800 UTC.

USDJPY

USDJPY 1 Hour Chart

As suggested in yesterday’s chart analysis, the USDJPY reversed around the longer-term moving average and has been bullish.

Price is up-trending. The moving averages are bullish and steady, suggesting that the uptrend could continue. The USDJPY is testing key higher-time resistance, suggesting a potential bearish move.

Opportunities to go long may exist around the bullish moving averages, around the trend support area and around the horizontal levels at 110.30, 110.20 and 109.85.

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.

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

XAUUSD

XAUUSD 1 Hour Chart

GOLD reversed around the shorter-term moving average and swung lower, as suggested in yesterday’s chart analysis.

Price is down-trending and is currently testing recent lows. The moving averages suggest that the trend may continue – they are bearish and steady.

Opportunities to go short could exist around the key Fib levels, around the dynamic resistance of the moving averages, around the trend resistance area and around the horizontal levels at 1848 and 1867.

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