TriumphFX Intraday Forex Analysis – 1 Hour Charts – September 20, 2021


Previous analysis… https://analysis.tfxi.com/2021/09/17/triumphfx-intraday-forex-analysis-1-hour-charts-september-17-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in our last analysis, price has been bearish and has swung lower.

AUDUSD is clearly down-trending – price action has formed a long series of lower swing highs and lower swing lows. The moving averages are bearish and steady, suggesting that the downtrend may continue.

Opportunities to go short could exist around the dynamic resistance of the moving averages, around the trend resistance area and around any of the horizontal levels at 0.7275, 0.7320, 0.7340 and 0.7375.

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.

The RBA will release monetary policy meeting minutes at 0130 UTC.

EURGBP

EURGBP 1 Hour Chart

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

EURGBP is indecisive again and is lacking trend momentum. The moving averages have been crossing frequently and are moving sideways – confirming the market indecision. Price is forming a higher swing high and is above the recent consolidation area, suggesting a potential uptrend.

Opportunities to go long may exist around the moving averages, around the diagonal support area and around any of the horizontal levels at 0.8555, 0.8545 and 0.8520. A bullish move could find resistance around 0.8600 and around 0.8610.

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

EURUSD 1 Hour Chart

As suggested in Friday’s chart analysis, EURUSD has been bearish and has swung lower.

Price is clearly down-trending and is currently pushing lower. The moving averages are bearish and widening, signalling that the downside direction may continue.

Shorting opportunities could exist around the dynamic resistance of the moving averages and around any of the horizontal levels at 1.1755, 1.1790, 1.1800 and 1.1825.

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.

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

GBPUSD

GBPUSD 1 Hour Chart

GBPUSD reversed around the shorter-term moving average and has since been bearish, as suggesting in Friday’s analysis.

Price is down-trending and is currently falling lower. The moving averages are bearish and widening, suggesting that the downtrend could continue. GBPUSD is looking indecisive on higher time-frames.

Selling opportunities may exist around the bearish moving averages and around any of the horizontal levels at 1.3735, 1.3770 and 1.3805.

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.

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

USDCAD

USDCAD 1 Hour Chart

Price has been bullish.

The USDCAD has swung above the the recent consolidation area and is forming a higher swing high, all suggesting a potential uptrend. The moving averages confirm the potential upside – they are bullish and widening.

Long opportunities could exist around the dynamic support of the moving averages, around any of the key Fib levels and around the previous horizontal resistance levels at 1.2725 and 1.2700.

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.

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

USDCHF 

USDCHF 1 Hour Chart

As suggested in our last chart analysis, price has been bullish and has swung higher.

The USDCHF is clearly up-trending – price action has formed a long series of higher swing highs and higher swing lows. The moving averages are bullish and widening, suggesting that the uptrend could continue. Price has broken some key resistance levels on higher time-frames, adding confidence that the USDCHF could continue to uptrend.

Buying opportunities may exist around any of the key Fib levels, around the dynamic support of the moving averages, around the previous swing high at 0.8235 and around the trend support area.

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.

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

USDJPY

USDJPY 1 Hour Chart

The USDJPY has been moving sideways.

Price was showing signs of a potential downtrend but is now looking indecisive. The moving averages confirm the market indecision – they have been crossing frequently and are moving sideways.

Trading opportunities could exist around the moving averages and around any of the horizontal levels at 109.25, 109.60, 110.00, 110.15 and 110.40.

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.

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

XAUUSD

XAUUSD 1 Hour Chart

As suggested in Friday’s analysis, GOLD has been bearish.

Price has formed another swing lower – GOLD is down-trending. The moving averages are bearish and widening, signalling that the downtrend could continue.

Opportunities to go short may exist around the dynamic resistance of the moving averages and around any of the horizontal levels at 1766 and 1784.

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