TriumphFX Intraday Forex Analysis – 1 Hour Charts – September 27, 2021


Previous analysis… https://analysis.tfxi.com/2021/09/24/triumphfx-intraday-forex-analysis-1-hour-charts-september-24-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in our last chart analysis, the AUDUSD reversed around the previous trend resistance area.

Price was down-trending but is now looking indecisive and showing some signs of a potential bullish move. The moving averages are bullish and widening, confirming the potential upside. The AUDUSD could start ranging between 0.7225 and 0.7315.

Buying opportunities may exist around the dynamic support of the moving averages, around the previous trend resistance area (as support) and around the horizontal support level at 0.7225. A bullish move could be rejected or reverse around the horizontal resistance levels at 0.7315, 0.7340, 0.7375 and 0.7405.

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

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

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

Trading opportunities could exist around the moving averages and around any of the identified horizontal levels at 0.8535, 0.8555, 0.8595 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.

The Governor of the BOE will speak at 1800 UTC today.

EURUSD

EURUSD 1 Hour Chart

As suggested in Friday’s analysis, price has reversed around 1.1705.

The EURUSD continues to be indecisive and move sideways. The moving averages confirm the market indecision – they are tight and also moving sideways. Price action is forming a potential inverted head and shoulder pattern, signalling a potential bullish move and the start of a potential uptrend.

Long opportunities may exist around the horizontal support levels at 1.1705 and 1.1685. A bullish move could be rejected or reverse around the moving averages and around the horizontal levels at 1.1750, 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

Price has been moving sideways.

The GBPUSD was showing signs of a potential uptrend but is now looking indecisive. The moving averages have crossed bullish and are widening, suggesting that price may still become bullish. The GBPUSD is looking indecisive on higher time-frames.

Trading opportunities could exist around the moving averages and around any of the horizontal levels at 1.3610, 1.3690, 1.3745, 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.

The Governor of the BOE will speak at 1800 UTC today.

USDCAD

USDCAD 1 Hour Chart

As suggested in Friday’s chart analysis, USDCAD reversed around the trend resistance area.

Price is down-trending and is currently forming a new swing low. The moving averages are bearish and widening, suggesting that the downtrend could continue.

Selling opportunities may exist around the dynamic resistance of the moving averages, around the trend resistance area and around the horizontal levels at 1.2640, 1.2725 and 1.2835. A bearish move could stall or reverse around any of the horizontal levels at 1.2620, 1.2610, 1.2590 and 1.2525.

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

USDCHF reversed around the range support area, as suggested in Friday’s analysis.

Price is indecisive and is lacking trend momentum. The moving averages are tight and moving sideways – confirming the market indecision. USDCHF was ranging between 0.9220 and 0.9270 but price has recently closed above the range resistance area, suggesting potential upside.

Opportunities to go long could exist around the previous range resistance area at 0.9270, around the dynamic support of the moving averages and around 0.9220. A bullish move may find resistance around the recent high and resistance 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 original expected.

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, price found support around 110.40 and has since been bullish.

USDJPY is forming a large bullish move above a recent consolidation, suggesting a potential uptrend. The moving averages confirm this – they are bullish and widening. Price is reaching a key higher time-frames resistance though, suggesting a potential bearish move.

Buying opportunities may exist around the dynamic support of the moving averages, around any of the key Fib levels and around any of the horizontal levels at 110.40, 110.15, 110.00 and 109.65. USDJPY could find resistance around the recent swing high at 110.80.

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

Price reversed around 1742, as suggested in our last chart analysis.

GOLD is down-trending and is currently in a retrace move. The moving averages have been crossing frequently but are currently bearish, suggesting that the downside direction may continue.

Shorting opportunities could exist around the longer-term moving average, around the trend resistance area and around any of the horizontal levels at 1760, 1779, 1784 and 1806. A bearish move may stall or reverse around the shorter-term moving average and around the recent lows at 1742.

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