TriumphFX Intraday Forex Analysis – 1 Hour Charts – November 30, 2021


Previous analysis… https://analysis.tfxi.com/2021/11/29/triumphfx-intraday-forex-analysis-1-hour-charts-november-29-2021/

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. AUDUSD is currently forming a swing lower. The moving averages are bearish and steady, signalling that the downtrend could continue.

Selling opportunities may exist around the dynamic resistance of the moving averages, around the trend resistance area and around any of the horizontal levels at 0.7115, 0.7155, 0.7205, 0.7225 and 0.7270.

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.

The Chair of the Federal Reserve will speak at 1500 UTC today. An Australian GDP figure will be released at 0030 UTC.

EURGBP

EURGBP 1 Hour Chart

The EURGBP found support around the shorter-term moving average and has since been bullish, as suggested in yesterday’s analysis.

Price is up-trending and is currently forming a swing higher. The moving averages suggest that the upside momentum may continue – they are bullish and widening. The EURGBP continues to be indecisive on higher time-frames.

Buying opportunities could exist around the dynamic support of the moving averages and around any of the horizontal levels at 0.8485, 0.8450 and 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

As suggested in our last analysis, price reversed around the shorter-term moving average.

The EURUSD as formed a swing higher and a swing lower, signalling the start of a potential uptrend. The moving averages confirm the potential upside – they are bullish and widening.

Long opportunities may exist around the dynamic support of the moving averages and around any of the horizontal levels at 1.1325, 1.1260, 1.1230 and 1.1190. A bullish move could stall or reverse around the horizontal levels at 1.1370, 1.1435 and 1.1460.

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.

The Chair of the Federal Reserve will speak at 1500 UTC today.

GBPUSD

GBPUSD 1 Hour Chart

Price has been moving sideways and has been reversing around the support and resistance areas of the range, as suggested in our last chart analysis.

The GBPUSD continues to be indecisive and lack trend momentum. Price is moving sideways and is ranging between 1.3290 and 1.3355. The moving averages confirm the current indecision – they are tightening and are moving sideways.

Trading opportunities could exist around the support and resistance areas of the range and if the GBPUSD moves out of the range (break-out trade). A break to the upside may find resistance around 1.3385, 1.3405 and 1.3475.

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.

The Chair of the Federal Reserve will speak at 1500 UTC today.

USDCAD

USDCAD 1 Hour Chart

As suggested in yesterday’s analysis, USDCAD has been bullish and has been finding resistance around 1.2790.

Price is clearly up-trending and is moving within a clear bullish channel. USDCAD is finding resistance, suggesting the start of a potential retrace move. The moving averages are bullish and widening, signalling that the uptrend could continue.

Opportunities to go long may exist around the dynamic support of the moving averages, around the bullish channel support area and around any of the horizontal levels at 1.2725, 1.2700, 1.2640 and 1.2635. A bullish move could be rejected or reverse around 1.2790 and around the channel resistance area.

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 Canadian GDP figure will be released at 1330 UTC today. The Chair of the Federal Reserve will speak at 1500 UTC.

USDCHF

USDCHF 1 Hour Chart

USDCHF reversed around 0.9270 and has since been bearish, as suggested in yesterday’s chart analysis.

Price action has formed a lower swing low and a lower swing high – the USDCHF is down-trending. The moving averages are bearish and widening, suggesting that the downtrend may continue.

Shorting opportunities could exist around the bearish moving averages and around any of the horizontal levels at 0.9215, 0.9270, 0.9320 and 0.9360. A bearish move may find support around any of the horizontal levels at 0.9190, 0.9155 and 0.9105.

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.

The Chair of the Federal Reserve will speak at 1500 UTC today.

USDJPY

USDJPY 1 Hour Chart

As suggested in our last analysis, price reversed around 113.95 and around the shorter-term moving average.

USDJPY is down-trending and is currently testing the most recent swing low. The moving averages are bearish and widening, suggesting that the downtrend could continue.

Opportunities to go short may exist around the dynamic resistance of the moving averages and around the horizontal levels at 113.95, 114.45, 114.60 and 114.90. A bearish move could find support around the horizontal support levels at 113.05 and 112.75.

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.

The Chair of the Federal Reserve will speak at 1500 UTC today.

XAUUSD

XAUUSD 1 Hour Chart

Price has been finding support around the range support area, as suggested in our last chart analysis.

GOLD is currently indecisive and is moving sideways. The moving averages are tight and moving sideways – confirming the market indecision. Price is ranging between 1781 and 1812.

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 1832 and 1844.

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