TriumphFX Intraday Forex Analysis – 1 Hour Charts – June 25, 2021


Previous analysis… https://analysis.tfxi.com/2021/06/24/triumphfx-intraday-forex-analysis-1-hour-charts-june-24-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in yesterday’s chart analysis, the AUDUSD has been bullish off the shorter-term moving average.

Price continues to uptrend and be bullish. The moving averages are bullish and steady, suggesting that the uptrend may continue.

Opportunities to go long could exist around the dynamic support of the moving averages, around the trend support area and around the horizontal support levels at 0.7500 and 0.7480. A bullish move may be rejected or reverse around the horizontal levels at 0.7600, 0.7645, 0.7675 and 0.7720.

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 reversed around the bearish channel resistance area, as suggested in yesterday’s chart analysis.

Price has been down-trending within a bearish channel. Recent price action has been sideways though and is ranging between 0.8535-0.8585. The moving averages confirm the current indecision – they are tight and moving sideways.

Trading opportunities may exist around the moving averages and around the support and resistance areas of the range and of the the bearish channel. A bullish move could find resistance around the horizontal resistance levels at 0.8595 and 0.8620.

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 our last chart analysis, price has been moving sideways.

The EURUSD is currently indecisive and ranging between 1.1920-1.1970. The moving averages confirm the market indecision – they are tight and moving sideways.

Trading opportunities could exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). A break to the upside may stall or reverse around the diagonal resistance area. A break to the downside may stall or reverse around the horizontal support levels at 1.1885 and 1.1850.

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.

The GBPUSD was showing signs of a potential uptrend but is now looking indecisive. The moving averages are moving sideways – confirming the market indecision.

Trading opportunities may exist around the moving averages and around any of the horizontal levels at 1.3795, 1.3865, 1.4000, 1.4040 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

USDCAD has been moving sideways.

Price was down-trending but just like other USD pairs, USDCAD has become indecisive. The moving averages are still bearish though, signalling a potential move lower.

Trading opportunities could exist around the previous trend resistance area (as support), around the moving averages and around any of the identified horizontal levels at 1.2135, 1.2160, 1.2200, 1.2255, 1.2335, 1.2360, 1.2400 and 1.2470.

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

As suggested in yesterday’s chart analysis, USDCHF has been moving sideways.

Price is indecisive and is lacking trend direction. The moving averages confirm the market indecision – they are tight and moving sideways. USDCHF is ranging between 0.9155 and 0.9210.

Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). A break to the upside could find resistance around 0.9230. A break to the downside could find support around 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.

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

USDJPY

USDJPY 1 Hour Chart

Price has been moving sideways.

USDJPY was showing signs of a potential uptrend but is currently looking indecisive. Price action has formed a horizontal channel at 110.70-111.05 and USDJPY is moving within the channel. The moving averages are still bullish and steady, suggesting a potential bullish move.

Trading opportunities could exist around the support and resistance areas of the horizontal channel and if price moves out of the channel (break-out trade). A break to the downside may find support around the shorter-term moving average and around the horizontal levels at 110.45 and 109.80.

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

As suggested in our last chart analysis, price has been moving sideways.

GOLD is indecisive and moving within a horizontal channel at 1761-1794. The moving averages are tight and crossing frequently – confirming the market indecision.

Trading opportunities may exist around the support and resistance areas of the channel and if price moves out of the channel (break-out trade). A break to the upside could find resistance around 1848.

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