TriumphFX Intraday Forex Analysis – 1 Hour Charts – February 14, 2022


Previous analysis… https://analysis.tfxi.com/2022/02/11/triumphfx-intraday-forex-analysis-1-hour-charts-february-11-2022/

AUDUSD

AUDUSD 1 Hour Chart

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

Price is indecisive and is lacking trend momentum. The moving averages confirm the market indecision – they have been crossing frequently and are moving sideways. AUDUSD is also indecisive on higher time-frames.

Trading opportunities may exist around the moving averages and around any of the identified horizontal levels at 0.7035, 0.7055, 0.7115, 0.7180 and 0.7245.

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 member of the FOMC will speak at 1600 UTC today. The RBA will release a monetary policy report at 0030 UTC.

EURGBP

EURGBP 1 Hour Chart

EURGBP has been bearish and has found support around 0.8360, as suggested in Friday’s chart analysis.

Price is down-trending – the EURGBP has formed a series of lower swing highs and lower swing lows. The moving averages suggest that the downtrend may continue – they are bearish and steady. Price is indecisive on higher time-frames.

Opportunities to go short could exist around the dynamic resistance of the moving averages, around the trend resistance area and around the horizontal levels at 0.8410, 0.8445 and 0.8475. A bearish move may stall or reverse around 0.8355, 0.8345 and 0.8310.

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 found support around 1.1330.

EURUSD has been indecisive but is currently looking bearish – price action has swung below a key support level and is forming a lower swing low. The moving averages are bearish and widening, suggesting that the downside direction could continue.

Shorting opportunities may exist around the dynamic resistance of the moving averages and around the horizontal levels at 1.1400 and 1.1490. A bearish move could be rejected or reverse around the horizontal levels at 1.1330 and 1.1265.

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 member of the FOMC will speak at 1600 UTC today.

GBPUSD

GBPUSD 1 Hour Chart

Price has been moving sideways and has reversed around 1.3610, as suggested in our last analysis.

GBPUSD is indecisive and is lacking trend direction. The moving averages confirm the current indecision – they are tight and are moving sideways.

Trading opportunities could exist around the moving averages and around any of the horizontal levels at 1.3445, 1.3495, 1.3515, 1.3610 and 1.3640.

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 member of the FOMC will speak at 1600 UTC today.

USDCAD

USDCAD 1 Hour Chart

As suggested in our previous analysis, the USDCAD has been moving sideways.

Price 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 may exist around the moving averages and around any of the identified horizontal levels at 1.2645, 1.2655, 1.2665, 1.2745, 1.2775 and 1.2790.

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 member of the FOMC will speak at 1600 UTC today.

USDCHF

USDCHF 1 Hour Chart

The USDCHF has reversed around the bullish channel support area, as suggested in our previous chart analysis.

Price is up-trending – price action has formed a series of higher swing highs and higher swing lows. USDCHF has formed a bullish channel and price is moving within the channel. The moving averages have been crossing frequently and are moving sideways, signalling indecision – price may start moving sideways.

Opportunities to go long could exist around the moving averages, around the bullish channel support area and around the horizontal support levels at 0.9225 and 0.9180. A bullish move may be rejected or reverse around the channel resistance area and around the horizontal levels at 0.9285, 0.9295 and 0.9340.

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 member of the FOMC will speak at 1600 UTC today.

USDJPY

USDJPY 1 Hour Chart

Price has been bearish.

The USDJPY was up-trending but has recently been bearish and has retraced some of the recent bullish move. The moving averages are tightening, signalling that price could struggle to swing higher. The USDJPY continues to uptrend on higher time-frames.

Long opportunities may exist around any of the horizontal levels at 115.25, 114.95, 114.25 and 114.10. A bullish move could find resistance or reverse around the moving averages and around the horizontal levels at 115.65 and 116.15.

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 member of the FOMC will speak at 1600 UTC today.

XAUUSD

XAUUSD 1 Hour Chart

As suggested in Friday’s analysis, price has been bullish and has swung higher.

GOLD is up-trending and is currently in a retrace move. The moving averages are bullish and steady, signalling that the uptrend may continue. XAUUSD is also up-trending on higher time-frames.

Buying opportunities could exist around any of the key Fib levels, around the bullish moving averages, around the trend support area and around the horizontal levels at 1841 and 1822. A bullish move may find resistance around 1861.

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