TriumphFX Intraday Forex Analysis – 1 Hour Charts – November 26, 2021


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Previous analysis… https://analysis.tfxi.com/2021/11/25/triumphfx-intraday-forex-analysis-1-hour-charts-november-25-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in yesterday’s chart analysis, the AUDUSD has been bearish and has swung lower.

Price 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 could continue. The AUDUSD is starting to look a little over-extended, signalling a potential bullish move.

Selling opportunities may exist around the bearish moving averages, around the trend resistance area and around the horizontal levels at 0.7205 and 0.7225. Price could stall or reverse around the recent lows at 0.7120.

The Reserve Bank of Australia (RBA) continues to keep the official interest rate at the record low of 0.10%. The rate is could stay the same until 2024. The RBA are expecting an economic bounce back during 2022.

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 and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

A US treasury report will be released today.

EURGBP

EURGBP 1 Hour Chart

The EURGBP closed above the horizontal channel resistance area and has since been bullish, as suggested in yesterday’s analysis.

Price is above the recent consolidation area, signalling a potential uptrend. The moving averages are bullish and steady – confirming the potential upside. 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 channel resistance at 0.8425. A bullish move may be rejected or reverse around the horizontal levels at 0.8525 and 0.8565.

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. Inflation targets and economic growth forecasts have been lifted for this year.

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, although inflation fears have been mentioned by many.

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

EURUSD

EURUSD 1 Hour Chart

Price has been bullish.

The EURUSD is down-trending and is currently in a retrace move. Price has swung above the moving averages, suggesting that downside momentum is weakening – the downtrend could becoming to an end.

Shorting opportunities may exist around the horizontal levels at 1.1290, 1.1370 and 1.1435. A bearish move could stall or reverse around the moving averages and around the horizontal levels at 1.1265, 1.1230 and 1.1190.

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 and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

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. Inflation targets and economic growth forecasts have been lifted for this year.

A US treasury report will be released today.

GBPUSD

GBPUSD 1 Hour Chart

As suggested in our last analysis, price has been reversing around the shorter-term moving average and has been bearish.

The GBPUSD is down-trending. The moving averages are bearish and steady, signalling that the downtrend may continue. Price is up-trending on higher time-frames and is currently testing a key support area, suggesting a potential bullish move.

Opportunities to go short could exist around the dynamic resistance of the moving averages and around any of the horizontal levels at 1.3350, 1.3385 and 1.3405. A bearish move may find support around the recent lows at 1.3300.

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 and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

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, although inflation fears have been mentioned by many.

A US treasury report will be released today.

USDCAD

USDCAD 1 Hour Chart

USDCAD reversed around 1.2635 and has since been bullish, as suggested in our last chart analysis.

Price is up-trending and is currently forming a swing higher. The moving averages are tight, signalling market indecision.

Long opportunities may exist around the bullish moving averages, around the trend support area and around the horizontal levels at 1.2735, 1.2700, 1.2640, 1.2635 and 1.2590.

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.

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 and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

A US treasury report will be released today.

USDCHF

USDCHF 1 Hour Chart

USDCHF has been bearish.

Price was up-trending but has recently been very bearish. USDCHF is below the moving averages and is starting to form sideways price action, signalling potential market indecision. The moving averages confirm this – they are tightening.

Trading opportunities could exist around the moving averages and around any of the identified horizontal levels at 0.9170, 0.9190, 0.9235, 0.9250, 0.9270, 0.9320, 0.9360 and 0.9365.

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 and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

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.

A US treasury report will be released today.

USDJPY

USDJPY 1 Hour Chart

As identified in our last chart analysis, price has found support around 113.65 and 113.75.

USDJPY was showing signs of a potential uptrend but is now looking indecisive. The moving averages are tightening – confirming the indecision. Price continues to uptrend on higher time-frames, suggesting potential upside.

Trading opportunities may exist around any of the identified horizontal levels at 112.75, 113.30, 113.65, 113.75, 113.95, 114.45, 114.60, 114.90, 115.20 and 115.45.

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 but some analysts are stating that the Japanese economy is stagnant and may experience economic challenges in the coming months.

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 and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

A US treasury report will be released today.

XAUUSD

XAUUSD 1 Hour Chart

Price has been bullish.

GOLD is down-trending and is currently in a retrace move. The moving averages are tightening and moving sideways, suggesting that price may struggle to swing lower.

Selling opportunities could exist around any of the key Fib levels, around the trend resistance area and around any of the horizontal levels at 1822, 1832, 1844, 1849 and 1870. A bearish move may be rejected or reverse around the moving averages and around the horizontal levels at 1797 and 1782.

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