TriumphFX Intraday Forex Analysis – 1 Hour Charts – April 13, 2022


Previous analysis… https://analysis.tfxi.com/2022/04/12/triumphfx-intraday-forex-analysis-1-hour-charts-april-12-2022/

AUDUSD – Market indecision? Potential bullish move?

AUDUSD 1 Hour Chart

As suggested in our last analysis, price reversed around 0.7465.

AUDUSD is below a recent consolidation area and is forming a lower swing high, signalling a potential downtrend. Price action is starting to look indecisive though and is forming a potential range at 0.7405-0.7485. The moving averages confirm the potential market indecision – they are tightening and are moving sideways. AUDUSD is up-trending on higher time-frames, signalling a potential bullish move higher.

Trading opportunities could exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). A break to the upside may find resistance around 0.7530.

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. This is due to global uncertainties post COVID and the war in Ukraine. The unemployment is expected to fall throughout the remaining of 2022.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery post COVID. The funds rate has been raised by 0.25% to 0.50%. The Fed current plans to raise interest rates each meeting until the end of the year, forecasting the rate to be around 1.9% by the end of 2022. The war in Ukraine is likely to increase inflation pressures on the US economy.

A US PPI figure will be released at 1230 UTC today. Australian employment change and unemployment rate figures will be released at 0130 UTC.

EURGBP – Market indecision

EURGBP 1 Hour Chart

Price has been moving sideways, as suggested in our last chart analysis.

EURGBP is indecisive and is ranging between 0.8310 and 0.8375. The moving averages confirm the market indecision – they are tight and are moving sideways. Price is down-trending on higher time-frames, suggesting a potential move lower.

Trading opportunities may exist around the support and resistance areas of the range and if EURGBP closes out of the range (break-out trade). A break to the downside could find support around 0.8300. A break to the upside could find resistance around 0.8410, 0.8440 and 0.8455.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. The ECB expect the war in Ukraine to have an economical and inflationary impact, due to higher energy and commodity prices.

The Bank of England (BOE) have increased it’s official bank rate by 0.25% to 0.75%. The official rate is now at pre-COVID levels. Inflation is a concern. The war in Ukraine is likely to increase inflationary pressures on UK households.

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

EURUSD – Down-trending

EURUSD 1 Hour Chart

EURUSD has been bearish.

Price is down-trending again, after a period of market indecision. The moving averages suggest that the downside direction may continue – they are bearish and steady. EURUSD is also down-trending on higher time-frames, adding confidence that the downtrend may continue.

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 1.0840, 1.0935, 1.0950 and 1.1030.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery post COVID. The funds rate has been raised by 0.25% to 0.50%. The Fed current plans to raise interest rates each meeting until the end of the year, forecasting the rate to be around 1.9% by the end of 2022. The war in Ukraine is likely to increase inflation pressures on the US economy.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. The ECB expect the war in Ukraine to have an economical and inflationary impact, due to higher energy and commodity prices.

A US PPI figure will be released at 1230 UTC today.

GBPUSD – Potential range?

GBPUSD 1 Hour Chart

As suggested in our previous analysis, GBPUSD has found support around 1.2985.

Price is clearly down-trending – price action has formed a long series of lower swing highs and lower swing lows. The moving averages are bearish and steady, suggesting that the downtrend could continue. GBPUSD is starting to look indecisive though, signalling that downside momentum could be weakening. Price could start ranging between 1.2980 and 1.3050. GBPUSD is up-trending on higher time-frames, suggesting a potential bullish move higher.

Trading opportunities may exist around the support and resistance areas of the range and if GBPUSD moves out of the range (break-out trade). A break to the upside could be rejected or reverse around the horizontal resistance levels at 1.3095, 1.3160 and 1.3170.

The Bank of England (BOE) have increased it’s official bank rate by 0.25% to 0.75%. The official rate is now at pre-COVID levels. Inflation is a concern. The war in Ukraine is likely to increase inflationary pressures on UK households.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery post COVID. The funds rate has been raised by 0.25% to 0.50%. The Fed current plans to raise interest rates each meeting until the end of the year, forecasting the rate to be around 1.9% by the end of 2022. The war in Ukraine is likely to increase inflation pressures on the US economy.

A US PPI figure will be released at 1230 UTC today.

USDCAD – End of the uptrend?

USDCAD 1 Hour Chart

Price reversed around the longer-term moving average, as suggested in our previous chart analysis.

The USDCAD is clearly up-trending – price action has formed a series of higher swing highs and higher swing lows. The moving averages suggest that the uptrend may continue – they are bullish and steady. Price has recently swung below the trend support area though, signalling that the USDCAD may be losing upside momentum – the uptrend could becoming to an end.

Opportunities to go long may could exist around the bullish moving averages and around any of the horizontal levels at 1.2590, 1.2565 and 1.2530. A bullish move may stall or reverse around the recent swing high at 1.2660 and around the previous trend support area as resistance.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery post COVID. The funds rate has been raised by 0.25% to 0.50%. The Fed current plans to raise interest rates each meeting until the end of the year, forecasting the rate to be around 1.9% by the end of 2022. The war in Ukraine is likely to increase inflation pressures on the US economy.

The Bank of Canada (BOC) has raised it’s interest rate by 0.25% to 0.50%. The BOC are expecting economic indicators to continue to improve, though the war in Ukraine may have an impact on economic growth. 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 1230 UTC today. The BOC will announce the official bank rate and release a rate statement at 1400 UTC. This is followed by a press conference at 1500 UTC.

USDCHF – Market indecision. Potential bullish move?

USDCHF 1 Hour Chart

As suggested in yesterday’s chart analysis, price has been moving sideways.

The USDCHF is indecisive and is lacking trend direction. The moving averages confirm the current indecision – they are moving sideways. Price is up-trending on higher time-frames, signalling a potential bullish move on the 1 hour.

Trading opportunities could exist around any of the identified horizontal levels at 0.9205, 0.9245, 0.9280, 0.9290, 0.9340 and 0.9370.

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 post COVID. The funds rate has been raised by 0.25% to 0.50%. The Fed current plans to raise interest rates each meeting until the end of the year, forecasting the rate to be around 1.9% by the end of 2022. The war in Ukraine is likely to increase inflation pressures on the US economy.

A US PPI figure will be released at 1230 UTC today.

USDJPY – Up-trending. Possible retrace move?

USDJPY 1 Hour Chart

The USDJPY has been bullish and has swung higher, as suggested in yesterday’s analysis.

Price is clearly up-trending and is currently forming a new swing high. The USDJPY could be due a retrace move. Price is also up-trending on higher time-frames.

Long opportunities may exist around the trend support area, around the dynamic support of the moving averages and around any of the horizontal levels at 125.70, 124.90, 124.65, 124.15, 123.60 and 123.10.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery post COVID. The funds rate has been raised by 0.25% to 0.50%. The Fed current plans to raise interest rates each meeting until the end of the year, forecasting the rate to be around 1.9% by the end of 2022. The war in Ukraine is likely to increase inflation pressures on the US economy.

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. Inflation is a concern though, especially with the rising prices of energy and raw materials.

A US PPI figure will be released at 1230 UTC today.

XAUUSD – Uptrend?

XAUUSD 1 Hour Chart

As suggested in our previous analysis, GOLD has been bullish.

Price is above a recent consolidation area, suggesting a potential uptrend. The moving averages confirm this – they are bullish and widening. XAUUSD is also up-trending on higher time-frames.

Buying opportunities could exist around the dynamic support of the moving averages, around the trend support area and around the horizontal levels at 1965, 1945 and 1940. A bullish move may be rejected or reverse around the recent highs at 1975.

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

Hits: 23