TriumphFX Intraday Forex Analysis – 1 Hour Charts – February 15, 2022
Previous analysis… https://analysis.tfxi.com/2022/02/14/triumphfx-intraday-forex-analysis-1-hour-charts-february-14-2022/
AUDUSD
As suggested in our previous chart analysis, price has been moving sideways.
The AUDUSD is indecisive and has been moving sideways. The moving averages confirm the market indecision – they have been crossing frequently and are moving sideways. Price is also indecisive on higher time-frames.
Trading opportunities could exist around the moving averages and around any of the identified horizontal levels at 0.7035, 0.7055, 0.7090, 0.7140, 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 US PPI figure will be released at 1330 UTC today.
EURGBP
Price has been bearish and has swung lower, as suggested in our previous analysis.
The EURGBP is down-trending and is currently in a retrace move. The moving averages are bearish and widening, signalling that the downtrend could continue. Price continues to be indecisive on higher time-frames.
Selling opportunities may exist around the dynamic resistance of the moving averages, around the trend resistance area and around the horizontal levels at 0.8380, 0.8410, 0.8445 and 0.8475. A bearish move could find support around 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
As suggested in our last analysis, the EURUSD has been bearish.
Price action is forming a lower swing low and price is below the recent consolidation area, all suggesting a potential downtrend. The moving averages confirm the potential downside – they are bearish and widening. EURUSD is indecisive on higher time-frames.
Shorting opportunities could exist around the dynamic resistance of the moving averages and around any of the horizontal levels at 1.1330 and 1.1400. A bearish move may find support around 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 US PPI figure will be released at 1330 UTC today.
GBPUSD
The GBPUSD reversed around 1.3495, as suggested in our last chart analysis.
Price is indecisive and is lacking trend momentum. The GBPUSD has been choppy and is moving sideways. The moving averages have been crossing frequently and are moving sideways – confirming the current indecision.
Trading opportunities may exist around the moving averages and around any of the identified horizontal levels at 1.3370, 1.3445, 1.3495, 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 US PPI figure will be released at 1330 UTC today.
USDCAD
As suggested in yesterday’s chart analysis, price reversed around 1.2775.
USDCAD is indecisive. Price has been choppy. The moving averages confirm the market indecision – they have been crossing frequently.
Trading opportunities could exist around the moving averages and around any of the horizontal levels at 1.2645, 1.2655, 1.2665, 1.2780 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 US PPI figure will be released at 1330 UTC today.
USDCHF
Price has started moving sideways, as suggested in yesterday’s analysis.
USDCHF has become indecisive, just like other USD pairs. The moving averages confirm the market indecision – they are tight and are moving sideways. Price is currently ranging between 0.9225 and 0.9285.
Trading opportunities may exist around the support and resistance areas of the range and if USDCHF moves out of the range (break-out trade). A break to the upside could find resistance around 0.9295 and 0.9340. A break to the downside could find support around 0.9180.
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 PPI figure will be released at 1330 UTC today.
USDJPY
As suggested in our previous analysis, USDJPY was bullish and then reversed around the shorter-term moving average.
Price was up-trending but is now looking indecisive. The moving averages have crossed bearish, signalling a potential bearish move. USDJPY is up-trending on higher time-frames, suggesting a potential upside move.
Trading opportunities could exist around the moving averages and around any of the horizontal levels at 114.10, 114.25, 114.95, 115.05, 115.70 and 116.15.
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 PPI figure will be released at 1330 UTC today.
XAUUSD
XAUUSD has been bullish and has swung higher, as suggested in our previous chart analysis.
GOLD is clearly up-trending – price action has formed a series of higher swing highs and higher swing lows. The moving averages are bullish and widening, signalling that the uptrend could continue. Price is also up-trending on higher time-frames.
Buying opportunities may exist around the dynamic support of the moving averages, around any of the key Fib levels, around the trend support area and around any of the horizontal levels at 1861, 1852 and 1841.
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