TriumphFX Intraday Forex Analysis – 1 Hour Charts – December 13, 2021


Previous analysis… https://analysis.tfxi.com/2021/12/10/triumphfx-intraday-forex-analysis-1-hour-charts-december-10-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in Friday’s chart analysis, the AUDUSD reversed around 0.7180.

Price has been moving sideways and is currently looking indecisive. The moving averages confirm the indecision – they are tightening and are moving sideways. The AUDUSD is ranging between 0.7140 and 0.7180.

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 0.7205, 0.7225 and 0.7270. A break to the downside may find support around 0.7085.

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.

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

EURGBP

EURGBP 1 Hour Chart

The EURGBP found support around the longer-term moving average, as suggested in Friday’s analysis.

Price has since been bearish though. The EURGBP is up-trending and is currently in a retrace move. Price has swung below the moving averages and the moving averages are tightening, all suggesting that EURGBP could struggle to swing higher – price could become indecisive or bearish.

Buying opportunities may exist around the horizontal levels at 0.8490 and 0.8485. A bullish move could be rejected or reverse around the moving averages and around the horizontal levels at 0.8550 and 0.8590.

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.

The BOE will release bank stress test results at 1700 UTC today. This is followed by a BOE speech at 1730 UTC.

EURUSD

EURUSD 1 Hour Chart

As suggested in our last chart analysis, price has been moving sideways.

The EURUSD is indecisive and is lacking trend direction. 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 1.1205, 1.1240, 1.1265, 1.1325, 1.1350 and 1.1380.

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.

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

GBPUSD

GBPUSD 1 Hour Chart

Price has been bullish, as suggested in our last analysis.

The GBPUSD was down-trending but recent price action has been bullish. Price has swung above the moving averages and above a recent swing high, suggesting that the downtrend could be over. The moving averages are tightening and moving sideways, suggesting market indecision.

Trading opportunities may exist around the previous trend resistance area (as support), around the moving averages and around any of the horizontal levels at 1.3185, 1.3270, 1.3285, 1.3330, 1.3345 and 1.3360.

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 BOE will release bank stress test results at 1700 UTC today. This is followed by a BOE speech at 1730 UTC.

USDCAD

USDCAD 1 Hour Chart

USDCAD has been bullish.

Price is looking indecisive again. The moving averages have crossed and are moving sideways – confirming the current market indecision.

Trading opportunities could exist around the moving averages and around any of the horizontal levels at 1.2615, 1.2695, 1.2725, 1.2765 and 1.2840.

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.

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

USDCHF

USDCHF 1 Hour Chart

As suggested in Friday’s analysis, USDCHF has been moving sideways.

Price is indecisive and is lacking trend direction. The moving averages confirm the market indecision – they are tight and are crossing frequently.

Trading opportunities may exist around the moving averages and around any of the horizontal levels at 0.9160, 0.9165, 0.9190, 0.9200, 0.9260, 0.9270 and 0.9360.

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.

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

USDJPY

USDJPY 1 Hour Chart

Price has been moving sideways, as suggested in Friday’s chart analysis.

Just like other FX pairs, USDJPY is indecisive and is lacking trend direction. The moving averages confirm the 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 112.60, 113.35, 113.75, 113.90, 114.60 and 114.90.

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.

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

XAUUSD

XAUUSD 1 Hour Chart

As suggested in our last analysis, price has been moving sideways.

GOLD is indecisive and is lacking trend momentum. Price is ranging between 1763 and 1792 and also 1770 and 1792. The moving averages confirm the current indecision – they have been crossing frequently and are moving sideways.

Trading opportunities may exist around any of the identified horizontal levels at 1763, 1771, 1792, 1802 and 1812.

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