TriumphFX Intraday Forex Analysis – 1 Hour Charts – January 25, 2022


Previous analysis… https://analysis.tfxi.com/2022/01/24/triumphfx-intraday-forex-analysis-1-hour-charts-january-24-2022/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in yesterday’s analysis, AUDUSD has reversed around the shorter-term moving average.

Price has been bearish and has swung below the recent consolidation area, signalling a potential downtrend. Price action has also formed a short series of lower swing highs and lower swing lows. The moving averages confirm the potential downside – they are bearish and widening.

Opportunities to go short may exist around the dynamic resistance of the moving averages, around any of the key Fib levels and around any of the horizontal levels at 0.7155, 0.7175 and 0.7225. A bearish move could find support around the recent swing low at 0.7100.

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.

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.

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

EURGBP

EURGBP 1 Hour Chart

EURGBP has been bullish.

Price has formed a large bullish move. EURGBP is above key resistance levels, suggesting a potential uptrend. The moving averages are bullish and widening – confirming the potential upside.

Opportunities to go long could exist around the bullish moving averages and around the horizontal levels at 0.8375, 0.8355 and 0.8340. A bullish move may be rejected or reverse around the recent swing high at 0.8420.

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.

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.

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

EURUSD

EURUSD 1 Hour Chart

As suggested in our previous chart analysis, price reversed off the previous trend resistance area.

EURUSD is down-trending but is struggling to swing lower – downside momentum could be weakening. The moving averages continue to be bearish and steady though, suggesting that the downtrend could continue.

Shorting opportunities may exist around the bearish moving averages and around any of the horizontal levels at 1.1330, 1.1350 and 1.1365. A bearish move could stall or reverse around the diagonal support area and also around the horizontal support levels at 1.1285 and 1.1270.

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.

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

GBPUSD

GBPUSD 1 Hour Chart

Price has been bearish and has swung lower, as suggested in our previous analysis.

GBPUSD is down-trending and is currently in a slight retrace move. The moving averages are bearish and widening, suggesting that the downtrend may continue. Price is up-trending on higher time-frames, signalling a potential bullish move.

Opportunities to go short could exist around the dynamic resistance of the moving averages, around the trend resistance area and around any of the horizontal levels at 1.3495, 1.3535 and 1.3570. A bearish move may find support around the horizontal support and recent lows at 1.3445.

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.

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

USDCAD

USDCAD 1 Hour Chart

As suggested in our last analysis, the USDCAD has been bullish.

Price is up-trending – price action has formed a higher swing high. The USDCAD is currently in a retrace move. The moving averages suggest that the uptrend could continue – they are bullish and widening.

Long opportunities may exist around the dynamic support of the moving averages, around any of the key Fib levels and around any of the horizontal levels at 1.2620, 1.2565 and 1.2520. A bullish move could stall or reverse around 1.2695 and around 1.2805.

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 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.

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

USDCHF

USDCHF 1 Hour Chart

The USDCHF has been bullish.

Price is looking indecisive again and is lacking trend direction. The moving averages have been crossing frequently and are moving sideways – confirming the market indecision. The USDCHF is also indecisive on higher time-frames.

Trading opportunities could exist around the moving averages and around any of the horizontal levels at 0.9095, 0.9110, 0.9140, 0.9180 and 0.9225.

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.

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.

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

USDJPY

USDJPY 1 Hour Chart

As suggested in yesterday’s analysis, price reversed around the longer-term moving average.

The USDJPY is down-trending but is currently moving sideways. Price is ranging between 113.55 and 114.00 and has formed a horizontal channel. The moving averages are bearish and steady, signalling that the downtrend could continue.

Trading opportunities may exist around the support and resistance areas of the range and if the USDJPY moves out of the range (break-out trade). A break to the upside could find resistance around the trend resistance area and around the horizontal levels at 114.20, 115.00 and 115.10.

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 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.

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

XAUUSD

XAUUSD 1 Hour Chart

Price reversed around the longer-term moving average, as suggested in yesterday’s chart analysis.

XAUUSD is up-trending and is currently in a retrace phase. Price is ranging between 1831 and 1847. The moving averages are bullish and steady, suggesting that the uptrend may continue.

Buying opportunities could exist around the moving averages, around the trend support area and around the horizontal levels at 1831, 1828, 1822 and 1810. A bullish move may find resistance around the recent swing high at 1847.

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