TriumphFX Intraday Forex Analysis – 1 Hour Charts – January 27, 2022


Previous analysis… https://analysis.tfxi.com/2022/01/26/triumphfx-intraday-forex-analysis-1-hour-charts-january-26-2022/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in yesterday’s chart analysis, AUDUSD reversed around the longer-term moving average and has since been bearish.

Price action has formed a series of lower swing lows and lower swing highs – the AUDUSD is down-trending. Price is trending within a bearish channel. The moving averages are bearish and steady, signalling that the downtrend could continue.

Opportunities to go short may exist around the dynamic resistance of the moving averages, around the bearish channel resistance area and around any of the horizontal levels at 0.7100, 0.7125, 0.7275 and 0.7225. A bearish move could find support around the channel support area.

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.

A US advance GDP figure will be released at 1330 UTC today.

EURGBP

EURGBP 1 Hour Chart

EURGBP has been moving sideways.

Price was signalling potential upside but is now looking indecisive. EURGBP is lacking trend momentum. 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 0.8310, 0.8340, 0.8345, 0.8375 and 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 last chart analysis, price has been bearish and has swung lower.

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

Shorting opportunities may exist around the dynamic resistance of the moving averages, around the trend resistance area and around any of the horizontal levels at 1.1270m 1.1305 and 1.1330.

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.

A US advance GDP figure will be released at 1330 UTC today.

GBPUSD

GBPUSD 1 Hour Chart

Price reversed around the longer-term moving average and has swung lower, as suggested in our last analysis.

GBPUSD is down-trending and is currently forming a swing lower. The moving averages are bearish and steady, suggesting that the downside direction may continue. Price is up-trending on higher time-frames, signalling a potential bullish move.

Selling opportunities could exist around the trend resistance area, around the dynamic resistance of the moving averages and around any of the horizontal levels at 1.3445, 1.3490, 1.3520, 1.3540 and 1.3570.

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.

A US advance GDP figure will be released at 1330 UTC today.

USDCAD

USDCAD 1 Hour Chart

As suggested in our previous analysis, the USDCAD reversed around 1.2565 and has swung higher.

Price is up-trending – price action has formed a series of higher swing highs and higher swing lows. The moving averages are bullish and steady, suggesting that the uptrend could continue.

Opportunities to go long may exist around the dynamic support of the moving averages, around any of the key Fib levels and around any of the identified horizontal levels at 1.2695, 1.2660 and 1.2565.

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.

A US advance GDP figure will be released at 1330 UTC today.

USDCHF

USDCHF 1 Hour Chart

The USDCHF has been bullish, as suggested in our previous chart analysis.

Price is up-trending and is currently forming a large bullish move. The USDCHF is nearing key resistance at 0.7270, suggesting a potential retrace move. The moving averages suggest that the uptrend may continue – they are bullish and widening.

Long opportunities could exist around the dynamic support of the moving averages and around any of the horizontal levels at 0.9225, 0.9200 and 0.9175. A bullish move may be rejected or reverse around the key resistance at 0.9270.

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.

A US advance GDP figure will be released at 1330 UTC today.

USDJPY

USDJPY 1 Hour Chart

Price has been bullish.

The USDJPY was down-trending but recent price action has been very bullish. The moving averages have crossed bullish and are widening, signalling a potential uptrend.

Buying opportunities may exist around the bullish moving averages, around the trend support area and around the horizontal levels at 114.55, 114.10 and 113.55. A bullish move could stall or reverse around any of the horizontal levels at 115.00, 115.10, 115.65 and 115.95.

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.

A US advance GDP figure will be released at 1330 UTC today.

XAUUSD

XAUUSD 1 Hour Chart

Price has been bearish.

GOLD was up-trending but the recent bearish move has broken some key support levels and has swung below the moving averages, signalling a potential downtrend or market indecision. The moving averages are crossing bearish, suggesting potential downside.

Shorting opportunities could exist around the bearish moving averages and around any of the horizontal levels at 1822, 1828, 1831 and 1843. A bearish move may find support around 1810, 1798 and 1787.

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