TriumphFX Intraday Forex Analysis – 1 Hour Charts – September 14, 2021
Previous analysis… https://analysis.tfxi.com/2021/09/13/triumphfx-intraday-forex-analysis-1-hour-charts-september-13-2021/
AUDUSD
As suggested in our last analysis, price has reversed around the moving averages.
AUDUSD was looking indecisive but is now looking bearish – price action has formed a short series of lower swing highs and lower swing lows and also a bearish channel. The moving averages are slightly bearish.
Opportunities to go short could exist around the dynamic resistance of the moving averages, around the bearish channel resistance area and around the horizontal levels at 0.7375, 0.7410 and 0.7460. A bearish move may find support around the channel support area and around the horizontal levels at 0.7335, 0.7290 and 0.7280.
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. COVID continues to put weight on economic recovery and GDP.
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 originally expected.
US CPI figures will be released at 1230 UTC today.
EURGBP
Price has been bearish and has formed a swing lower, as suggested in our last chart analysis.
EURGBP is down-trending and is currently in a retrace move. The moving averages are bearish and steady, signalling that the downtrend could continue. Price is looking indecisive on higher time-frames.
Shorting opportunities may exist around the longer-term moving average and around any of the horizontal levels at 0.8545, 0.8550, 0.8560 and 0.8575. A bearish move could be rejected or reverse around the shorter-term moving average and around the recent swing low at 0.8515.
The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They have said that no rate change is expected in the near or distant future. 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
As suggested in yesterday’s chart analysis, EURUSD was bearish and is currently finding resistance around the longer-term moving average.
Price is clearly down-trending and is currently in a retrace move. The moving averages are bearish and steady, suggesting that the downtrend may continue.
Selling opportunities could exist around the dynamic resistance of the moving averages, around the trend resistance area and around the horizontal resistance levels at 1.1850 and 1.1880. A bearish move may stall or reverse around any of the horizontal support levels at 1.1800, 1.1785, 1.1775 and 1.1745.
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 originally expected.
The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They have said that no rate change is expected in the near or distant future. The ECB have hinted at providing more economic stimulus, if needed.
US CPI figures will be released at 1230 UTC today.
GBPUSD
GBPUSD has been moving sideways, as suggested in yesterday’s analysis.
Price continues to be indecisive and lack trend direction. GBPUSD is ranging between 1.3735 and 1.3890. The moving averages confirm the market indecision – they have been crossing frequently and are moving sideways.
Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade).
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 originally expected.
US CPI figures will be released at 1230 UTC today.
USDCAD
As suggested in our last chart analysis, price has been moving sideways.
The USDCAD continues to be indecisive and is lacking trend momentum. The moving averages are tight and are moving sideways – confirming the current indecision.
Trading opportunities could exist around the moving averages and around any of the horizontal levels at 1.2505, 1.2525, 1.2555, 1.2580, 1.2690 and 1.2725.
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 originally expected.
The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The BOC are expecting economic indicators to continue to improve.
US CPI figures will be released at 1230 UTC today.
USDCHF
Price has been bullish and has swung higher, as suggested in our last analysis.
The USDCHF is clearly up-trending. Price is currently in a retrace move. The moving averages have crossed bullish, suggesting that the uptrend could continue.
Opportunities to go long may exist around the dynamic support of the moving averages, around the trend support area and around the horizontal levels at 0.9185, 0.9165, 0.9150 and 0.9135. A bullish move could find resistance around 0.9235.
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 Swiss economy is recovering from COVID and seems stable.
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 originall expected.
US CPI figures will be released at 1230 UTC today.
USDJPY
As suggested in yesterday’s analysis, the USDJPY has been moving sideways.
Price continues to be indecisive and range between 109.60 and 110.40. The moving averages confirm the indecision – they have been crossing frequently and are moving sideways.
Trading opportunities could exist around the support and resistance areas of the range and if the USDJPY moves out of the range (break-out trade).
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 originally expected.
The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is expected to make a moderate recovery from the COVID crisis.
US CPI figures will be released at 1230 UTC today.
XAUUSD
GOLD has been moving sideways, as suggested in yesterday’s chart analysis.
Price is ranging between 1786 and 1803. The moving averages are tight and moving sideways – confirming the current indecision.
Trading opportunities may exist around the support and resistance areas of the range and if GOLD moves out of the range (break-out trade). A break to the downside could find support around 1784 and 1778. A break to the upside could find resistance around 1807 and 1821.
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