TriumphFX – Forex Analysis – USD Pairs – January, February & March 2022


Previous analysis… https://analysis.tfxi.com/2021/10/19/triumphfx-forex-analysis-usd-pairs-october-november-december-2021/

AUDUSD – Daily Chart

AUDUSD Daily Chart

The AUDUSD recently found support around 0.7000, as suggested in our last USD analysis.

Price action has formed a bearish move lower, signalling a potential downtrend. The daily moving averages confirm the potential downtrend – they are bearish and steady.

Shorting opportunities may exist around the dynamic resistance of the moving averages and around any of the horizontal levels at 0.7180, 0.7450, 0.7530 and 0.7585. A bearish move could be rejected or reverse around the recent swing low at 0.7000.

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 Fed will be cautious about raising rates, especially with the current Omnicron breakout.

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 for the near future – possibly until 2024. The RBA are expecting an economic bounce back during 2022. Inflation pressures in Australia seem to be less than in other countries.

EURUSD – Daily Chart

EURUSD Daily Chart

As suggested in our last analysis, price has been bearish and has swung lower.

EURUSD is clearly down-trending – price action has formed a series of lower swing highs and lower swing lows. Price is currently in a retrace move. The moving averages are bearish and widening, suggesting that the downtrend could continue.

Shorting opportunities may exist around any of the key Fib levels, around the dynamic resistance of the moving averages, around the trend resistance area and around the horizontal levels at 1.1530, 1.1680 and 1.1890. A bearish move could be rejected or reverse around the recent swing low at 1.1200.

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 Fed will be cautious about raising rates, especially with the current Omnicron breakout.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They believe that the current spike in inflation is transitionary.

GBPUSD – Daily Chart

GBPUSD Daily Chart

Price reversed around the longer-term moving average and has been bearish, as suggested in our previous USD chart analysis.

GBPUSD is clearly down-trending – price action has formed a series of lower swing highs and lower swing lows. Price is currently in a retrace move. The daily 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 1.3615, 1.3820, 1.3860 and 1.3990. A bearish move could be rejected or reverse around the recent swing low at 1.3205.

The Bank of England (BOE) have increased it’s official bank rate to 0.25%. Inflation is a concern. The UK Unemployment rate is expected to fall.

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 Fed will be cautious about raising rates, especially with the current Omnicron breakout.

USDCAD – Daily Chart

USDCAD Daily Chart

The USDCAD has been bullish.

Price was indecisive but price action is currently forming a swing higher, suggesting the start of a possible uptrend. The moving averages confirm the potential upside – they are becoming bullish.

Long opportunities may exist around the dynamic support of the moving averages and around the horizontal levels at 1.2845 and 1.2320. A bullish move could be rejected or reverse around 1.2845 and around 1.3370.

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. A rate increase is currently expected mid-2022. Inflation targets continue to be a priority and the BOC expect inflation to continue to be elevated 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 Fed will be cautious about raising rates, especially with the current Omnicron breakout.

USDCHF – Daily Chart

USDCHF Daily Chart

As suggested in our previous analysis, price has been bullish and has formed a swing higher.

USDCHF is up-trending – price action has formed a series of higher swing highs and higher swing lows. Price is starting to look choppy and indecisive though, suggesting potential sideways price action. The moving averages confirm the potential indecision – they are moving sideways. USDCHF may start ranging between 0.9095 and 0.9355.

Buying opportunities could exist around the longer-term moving average, around the trend support area and around the horizontal support levels at 0.9095, 0.9040 and 0.8945. A bullish move may stall or reverse around the shorter-term moving average and around the horizontal resistance levels at 0.9355 and 0.9440.

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 Fed will be cautious about raising rates, especially with the current Omnicron breakout.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB will continue to keep ultra-loose monetary policy in order to provide support to the Swiss economy. The bank continues to intervene with Foreign Exchange markets with regard to temper the value of the Swiss Franc.

USDJPY – Daily Chart

USDJPY Daily Chart

The USDJPY has been bullish and up-trending, as suggested in our last USD chart analysis.

Price is clearly up-trending – price action has formed a long series of higher swing highs and higher swing lows. The daily moving averages are bullish and widening, suggesting that the uptrend could continue. The USDJPY is currently ranging though (112.75-115.35), signalling market indecision.

Long opportunities may exist around the dynamic support of the moving averages and around any of the identified horizontal levels at 112.75, 111.60, 110.75, 109.00 and 107.85. A bullish move could be rejected or reverse around the range resistance area at 115.35.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is making a steady but moderate recovery from the COVID crisis.

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 Fed will be cautious about raising rates, especially with the current Omnicron breakout.

Start trading today with Triumph’s Forex MT4 trading platform – https://www.tfxi.com/