TriumphFX Intraday Forex Analysis – 1 Hour Charts – December 14, 2021


Previous analysis… https://analysis.tfxi.com/2021/12/13/triumphfx-intraday-forex-analysis-1-hour-charts-december-13-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in yesterday’s analysis, price closed below the range support area and has since been bearish.

AUDUSD is below the recent consolidation area, suggesting potential downside. The moving averages are still signalling market indecision – they are tightening and are moving sideways.

Opportunities to go short may exist around the dynamic resistance of the moving averages and around any of the horizontal levels at 0.7140, 0.7180, 0.7205 and 0.7225. A bearish move could stall or reverse around the horizontal levels at 0.7085 and 0.6995.

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 PPI figure will be released at 1330 UTC.

EURGBP

EURGBP 1 Hour Chart

Price has been bullish, as suggested in yesterday’s chart analysis.

EURGBP is up-trending and is currently in a retrace move. The moving averages have crossed bearish, suggesting that upside momentum is weakening – price may struggle to swing higher.

Opportunities to go long could exist around the moving averages and around the horizontal levels at 0.8500, 0.8490, 0.8485 and 0.8450. A bullish move may 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.

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

EURUSD

EURUSD 1 Hour Chart

As suggested in our last analysis, EURUSD has reversed around 1.1265.

Price continues to be indecisive and lack trend direction. The moving averages confirm the market indecision – they have been crossing frequently and are moving sideways.

Trading opportunities may exist around any of the identified 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.

A US PPI figure will be released at 1330 UTC.

GBPUSD

GBPUSD 1 Hour Chart

GBPUSD has reversed around 1.3270, as suggested in our last chart analysis.

Price is indecisive and is lacking trend momentum. The moving averages have crossed and are moving sideways, signalling indecision.

Trading opportunities could exist 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.

A US PPI figure will be released at 1330 UTC.

USDCAD

USDCAD 1 Hour Chart

Price has been bullish.

The USDCAD continues to look indecisive, despite the recent upside. Overall, the moving averages have been crossing frequently, signalling market indecision. If price closes above the recent highs at 1.2840, the USDCAD could start up-trending.

Trading opportunities may exist around any of the moving averages and around the horizontal levels at 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.

A US PPI figure will be released at 1330 UTC.

USDCHF

USDCHF 1 Hour Chart

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

Just like other FX pairs, the USDCHF is indecisive and is lacking trend direction. The moving averages confirm the current indecision – they have been crossing frequently and are moving sideways.

Trading opportunities could exist around any of the identified horizontal levels at 0.9160, 0.9165, 0.9190, 0.9200, 0.9250, 0.9260 and 0.9270.

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 PPI figure will be released at 1330 UTC.

USDJPY

USDJPY 1 Hour Chart

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

Price is indecisive and is lacking trend direction. The moving averages are tight and moving sideways – confirming the indecision. The USDJPY is up-trending on higher time-frames, suggesting that price could attempt a move higher.

Trading opportunities may exist 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.

A US PPI figure will be released at 1330 UTC.

XAUUSD

XAUUSD 1 Hour Chart

As suggested in yesterday’s analysis, GOLD has been finding resistance around 1792.

Price is indecisive, just like many Forex pairs. The moving averages are tight and crossing frequently – confirming the market indecision. GOLD is ranging between 1771 and 1792.

Trading opportunities could exist around the support and resistance areas of the range and if XAUUSD moves out of the range (break-out trade). A break to the upside may find resistance around 1802 and 1812. A break to the downside may support around 1763.

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