TriumphFX Intraday Forex Analysis – 1 Hour Charts – June 28, 2021


Previous analysis… https://analysis.tfxi.com/2021/06/25/triumphfx-intraday-forex-analysis-1-hour-charts-june-25-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in Friday’s chart analysis, price has been bullish.

AUDUSD continues to uptrend and move higher. The moving averages are bullish and steady, signalling that the upside direction could continue. Price is down-trending on higher time-frames, suggesting a potential bearish move.

Buying opportunities may exist around the dynamic support of the moving averages, around the trend support area and around the horizontal levels at 0.7570, 0.7540 and 0.7500. A bullish move could find resistance around 0.7610, 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

Price found resistance around 0.8595, as suggested in Friday’s chart analysis.

EURGBP swung above a recent consolidation resistance area but continues to range. Price is now ranging between 0.8535 and 0.8600. The moving averages confirm the current market 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). A break to the upside may find resistance around 0.8620 and 0.8640.

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, EURUSD has been moving sideways.

Price is indecisive and lacking trend momentum. The moving averages confirm the indecision – they are tight and moving sideways. EURUSD is ranging between 1.1920 and 1.1975.

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 downside could find support around 1.1885 and 1.1855. A break to the upside could find resistance around the trend resistance area and around 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.

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

GBPUSD

GBPUSD 1 Hour Chart

GBPUSD reversed around 1.3865, as suggested in out last chart analysis.

Price continues to be indecisive and lack trend direction. The moving averages have been crossing frequently and are moving sideways – confirming the market indecision. GBPUSD is ranging between 1.3865-1.4000.

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 downside may find support around 1.3795. A break to the upside may find resistance around 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

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

The USDCAD is indecisive. The moving averages confirm the market indecision – they are tight and moving sideways. Price is ranging between 1.2255 and 1.2335.

Trading opportunities may exist around the support and resistance areas of the range and if the USDCAD moves out of the range (break-out trade). A break to the downside could find support around 1.2200, 1.2160 and 1.2130. A break to the upside could find resistance around 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

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

The USDCHF is ranging between 0.9145 and 0.9200. The moving averages are tight and moving sideways – confirming the current indecision. Price action has formed a bearish channel and price is down-trending on higher time-frames, signalling a potential downside move.

Trading opportunities could exist around the support and resistance areas of the range and the bearish channel. A break higher may stall or reverse around the horizontal resistance levels at 0.9210 and 0.9230.

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 analysis, the USDJPY has been bearish.

Price has been up-trending but is currently around a key resistance area on higher time-frames, suggesting a potential bearish move. Price action confirms the potential downside – it has formed a bearish channel. The moving averages tightening – signalling market indecision.

Trading opportunities may exist around the moving averages, around the support and resistance areas of the bearish channel and around any of the horizontal levels at 109.80, 110.45, 110.55 and 111.05.

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 has been moving sideways, as suggested in our last analysis.

Price is indecisive and lacking trend direction. Price action has formed a horizontal channel at 1761-1794 and GOLD is moving within the channel. The moving averages are tight and crossing frequently – confirming the market indecision.

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

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