TriumphFX Intraday Forex Analysis – 1 Hour Charts – September 21, 2021


Previous analysis… https://analysis.tfxi.com/2021/09/20/triumphfx-intraday-forex-analysis-1-hour-charts-september-20-2021/

AUDUSD

AUDUSD 1 Hour Chart

The AUDUSD is in a retrace move.

Price is clearly down-trending – price action has formed a long series of higher swing highs and higher swing lows. The AUDUSD is currently in a retrace move after forming a new swing low. The moving averages are bearish and steady, suggesting that the downtrend could continue.

Selling opportunities may exist around the longer-term moving average, around the trend resistance area and around the horizontal levels at 0.7275, 0.7320, 0.7340 and 0.7375. A bearish move could be rejected or reverse around the shorter-term moving average and around the recent swing low at 0.7225.

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.

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

EURGBP

EURGBP 1 Hour Chart

As suggested in yesterday’s chart analysis, the EURGBP has been bullish.

Price has swung higher and has formed a short series of higher swing highs and higher swing lows, signalling a potential uptrend. The moving averages confirm the potential upside – they have crossed bullish and are widening. The EURGBP continues to be indecisive on higher time-frames.

Buying opportunities could exist around the dynamic support of the moving averages, around the trend support area and around the previous horizontal resistance levels at 0.8555 and 0.8545. A bullish move may stall or reverse around the horizontal resistance levels at 0.8590, 0.8600 and 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

Price is finding resistance around the shorter-term moving average, as suggested in yesterday’s chart analysis.

The EURUSD 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 widening, suggesting that the downtrend could continue. Price is around a key support level on higher time-frames, signalling a potential bullish move.

Shorting opportunities may 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. A bearish move could find support around the recent swing low at 1.1705.

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

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

The GBPUSD is down-trending. The moving averages are bearish and widening, signalling that the downside direction may continue.

Opportunities to go short could exist around the dynamic resistance of the moving averages and around any of the horizontal levels at 1.3735, 1.3770 and 1.3805. An attempt to swing lower may find support around the recent swing low at 1.3645.

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

USDCAD has swung higher and has been bullish, as suggested in our last analysis.

Price is up-trending and is currently in a retrace move. The moving averages are bullish and widening, signalling that the uptrend could continue.

Long opportunities may exist around the longer-term moving average, around the 61.8% Fib level and around the horizontal levels at 1.2725, 1.2700, 1.2640, 1.2620 and 1.2610. A bullish move could find resistance and even reverse around the shorter-term moving average and around the recent swing high at 1.2860.

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 yesterday’s chart analysis, USDCHF has been finding support around the 38.2% Fib level.

Price is clearly up-trending and is currently in a retrace move. The moving averages are bullish and steady, suggesting that the uptrend may continue. USDCHF is also up-trending on higher time-frames.

Opportunities to go long could exist around the longer-term moving average, around any of the key Fib levels, around 0.9235 and around the trend support area. A bullish move may be rejected or reverse around the shorter-term moving average and around the recent swing high at 0.9325.

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

Price has been finding resistance around 109.60, as suggested in yesterday’s analysis.

USDJPY continues to be indecisive and lack trend direction. The moving averages confirm the market indecision – they have been crossing frequently and are moving sideways. Price is also indecisive on higher time-frames.

Trading opportunities may exist around the moving averages and around the horizontal levels at 109.25, 109.35, 109.60, 110.00 and 110.15.

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 our last chart analysis, price has reversed around 1766.

GOLD has been moving sideways and is looking indecisive. The moving averages are tightening and are starting to move sideways – confirming the market indecision. Price is ranging between 1746 and 1766.

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 the longer-term moving average and around the horizontal levels at 1784 and 1806.

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