TriumphFX – Forex Analysis – USD Pairs – July, August & September 2021


Previous analysis… https://analysis.tfxi.com/2021/04/06/triumphfx-forex-analysis-usd-pairs-april-may-june-2021/

AUDUSD – Daily Chart

AUDUSD 1 Hour Chart

As suggested in our last USD chart analysis, the uptrend is over.

The AUDUSD is now down-trending – price action has formed a short series of lower swing highs and lower swing lows. Price action has also formed a bearish channel. The moving averages are crossing bearish, signalling that the downside direction could continue.

Selling opportunities may exist around the dynamic resistance of the moving averages, around the bearish channel resistance area and around the horizontal levels at 0.7380, 0.7585, 0.7855 and 0.7975.

EURUSD – Daily Chart

EURUSD Daily Chart

As suggested in our last analysis, EURUSD has been indecisive.

Price has been moving sideways. The moving averages confirm the market indecision – they are tight and moving sideways.

Trading opportunities may exist around the moving averages and around any of the horizontal levels at 1.1615, 1.1720, 1.1945, 1.2245 and 1.2335.

GBPUSD – Daily Chart

GBPUSD Daily Chart

Price has been moving sideways.

GBPUSD was up-trending but has recently been moving sideways. The moving averages confirm the market indecision – they are tightening and are moving sideways. Price is ranging and has formed a horizontal channel at 1.3630-1.4220.

Trading opportunities may exist around the support and resistance areas of the range and if GBPUSD moves out of the range (break-out trade). A break to the downside could find support around 1.3400.

USDCAD – Daily Chart

USDCAD Daily Chart

The USDCAD has been bullish.

Price has swung above the recent bearish channel resistance area and is forming a higher swing high, signalling a potential uptrend. Price action could be forming a large inverted head and shoulder pattern – confirming the potential upside.

Long opportunities may exist around the dynamic support of the moving averages, around the previous bearish channel resistance area and around the recent lows at 1.2040. A bullish move could stall or reverse around any of the horizontal levels at 1.2890, 1.3000, 1.3385 and 1.3685.

USDCHF – Daily Chart

USDCHF Daily Chart

Price has been moving sideways.

USDCHF is looking indecisive and is lacking trend momentum. The moving averages have been crossing and are moving sideways – confirming the market indecision.

Trading opportunities could exist around any of the identified horizontal levels at 0.8780, 0.8945, 0.9285 and 0.9435.

USDJPY – Daily Chart

USDJPY Daily Chart

As suggested in our last USD chart analysis, the USDJPY has been bullish and has swung higher.

Price is clearly up-trending – price action has formed a series of higher swing highs and higher swing lows. The moving averages are bullish and steady, suggesting that the USDJPY could attempt to move higher. Price has swung below the trend support area though, signalling that USDJPY could struggle to swing higher.

Buying opportunities may exist around the longer-term moving average and around the horizontal levels at 107.85, 107.00, 106.15 and 104.50. A bullish move could find resistance around the shorter-term moving average, around the previous trend support area and around the recent swing high at 111.50.

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