TriumphFX Intraday Forex Analysis – 1 Hour Charts – June 18, 2021


Previous analysis… https://analysis.tfxi.com/2021/06/17/triumphfx-intraday-forex-analysis-1-hour-charts-june-17-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in yesterday’s chart analysis, the AUDUSD has been bearish and has swung lower.

Price is clearly down-trending and was recently very bearish. The moving averages are bearish and widening, signalling that the downtrend may continue. The AUDUSD is looking over-extended though, suggesting a potential bullish retrace move.

Opportunities to go short could exist around the dynamic resistance of the moving averages and around the horizontal levels at 0.7605, 0.7645 and 0.7675.

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

The EURGBP has been bearish and has been finding support around the bearish channel support area, as suggested in yesterday’s chart analysis.

Price is down-trending within a bearish channel. The moving averages have crossed bearish, signalling that the downside direction could continue. The EURGBP is also down-trending on higher time-frames.

Shorting opportunities may exist around the bearish moving averages, around the bearish channel resistance area and around the horizontal levels at 0.8570 and 0.8620. A bearish move could be rejected or reverse around the recent lows at 0.8545 and around the 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 chart analysis, price has been bearish and has swung lower.

The EURUSD is clearly down-trending and has recently been very bearish. The moving averages signal that the downtrend may continue – they are bearish and widening. Price is looking over-extended, suggesting a potential bullish retrace move.

Selling opportunities could exist around any of the key Fib levels, around the dynamic resistance of 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

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

The GBPUSD is down-trending. The moving averages are bearish and steady, suggesting that the downtrend could continue. Price is up-trending on higher time-frames though, signalling a potential bullish move.

Opportunities to go short may exist around the bearish moving averages, around any of the key Fib levels and around the horizontal levels at 1.4040, 1.4085 and 1.4120. A bearish move could find support around 1.3895.

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 our last analysis, USDCAD has continued to be bullish.

Price is up-trending and is currently testing yesterday’s highs. The moving averages are bullish and widening, suggesting that the trend may continue. USDCAD is down-trending on higher time-frames though, signalling a potential bearish move.

Opportunities to go long could exist around any of the key Fib levels, around the dynamic support of the moving averages, around the trend support area and around the horizontal levels at 1.2200 and 1.2160. Price may find resistance around the recent highs at 1.2360.

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

USDCHF has swung higher, as suggested in our last analysis.

Price is clearly up-trending. The moving averages are bullish and widening, suggesting that the uptrend could continue.

Long opportunities may exist around any of the key Fib levels, around the dynamic support of the moving averages and around the previous horizontal resistance at 0.9050. USDCHF could stall or reverse around yesterday’s highs at 0.9185.

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.

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 bearish and has been finding support around the longer-term moving average.

USDJPY is up-trending and is currently in a retrace phase. The moving averages are bullish and steady, signalling that the uptrend may continue.

Buying opportunities could exist around the longer-term moving average, around the trend support area and around the horizontal levels at 110.15, 109.85 and 109.30. A bullish move may find resistance around the shorter-term moving average and around the recent swing high at 110.75.

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

Price has been bearish and has swung lower, as suggested in yesterday’s chart analysis.

GOLD is down-trending and is currently in a retrace move. The moving averages are bearish and steady, suggesting that the downtrend could continue.

Shorting opportunities may exist around any of the key Fib levels, around the bearish moving averages and around the trend resistance area. A bearish move could find support around the recent lows at 1770.

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