TriumphFX Intraday Forex Analysis – 1 Hour Charts – February 15, 2021


Previous analysis… https://analysis.dehuifx.com/2021/02/12/triumphfx-intraday-forex-analysis-1-hour-charts-february-12-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in our last chart analysis, the AUDUSD has been bullish and has swung higher.

Price continues to uptrend. The moving averages are bullish and steady, signalling that the uptrend may continue. The AUDUSD is also up-trending on higher time-frames.

Opportunities to go long could exist around the dynamic support of the moving averages, around the diagonal support area and around the horizontal levels at 0.7765, 0.7720, 0.7710 and 0.7695.

The Reserve Bank of Australia (RBA) continue to keep the interest rate at the record low of 0.10%. The rate is currently forecast to stay the same until 2024.

The Federal Reserve have stated that the health risks associated with COVID will continue to weigh on economic activity, inflation and employment. The current rate is set at 0.25% (record lows). The Fed have suggested that rates may remain low until economic indicators show satisfactory improvement. They have stated that lowering the unemployment rate and improving other key economic indicators is not going to be an easy task.

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

EURGBP

EURGBP 1 Hour Chart

The EURGBP found support around 0.8740, as suggested in our last chart analysis.

Price has since been bearish and has swung lower. The EURGBP is clearly down-trending. Price is forming a new swing low and the moving averages are becoming bearish, all suggesting that the downtrend could continue.

Opportunities to go short may exist around the dynamic resistance of the moving averages and around the horizontal levels at 0.8740, 0.8755, 0.8790 and 0.8795.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. The ECB have hinted at providing more economic stimulus, if needed.

The Bank of England (BOE) continue to keep rates at the record low at 0.10%. Recent economic figures have been more positive than expected. With the rollout of vaccines and the ease of lockdowns on the horizon, the BOE expect an economic rebound from April 2021.

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

EURUSD

EURUSD 1 Hour Chart

Price has been bullish.

The EURUSD is back at recent highs. The moving averages are bullish and price action has formed a higher swing low, all suggesting that the upside may continue. Price is nearing a number of key resistance levels though, signalling that the EURUSD may struggle to climb higher.

Long opportunities could exist around the dynamic support of the moving averages, around the trend support area and around the horizontal levels at 1.2085 and 1.2055. A bullish move may be rejected or reverse around the horizontal resistance levels at 1.2150, 1.2165 and 1.2180.

The Federal Reserve have stated that the health risks associated with COVID will continue to weigh on economic activity, inflation and employment. The current rate is set at 0.25% (record lows). The Fed have suggested that rates may remain low until economic indicators show satisfactory improvement. They have stated that lowering the unemployment rate and improving other key economic indicators is not going to be an easy task.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. The ECB have hinted at providing more economic stimulus, if needed.

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

GBPUSD

GBPUSD 1 Hour Chart

As suggested in our previous chart analysis, price has been bullish and has swung higher.

The GBPUSD is clearly up-trending. The moving averages are bullish and steady, suggesting that the uptrend could continue. Price is also up-trending on higher time-frames. The GBPUSD is starting to become overbought, signalling a potential bearish retrace move.

Buying opportunities may exist around any of the key Fib levels, around the dynamic support of the moving averages, around the trend support area and around the horizontal levels at 1.3855, 1.3775 and 1.3755.

The Federal Reserve have stated that the health risks associated with COVID will continue to weigh on economic activity, inflation and employment. The current rate is set at 0.25% (record lows). The Fed have suggested that rates may remain low until economic indicators show satisfactory improvement. They have stated that lowering the unemployment rate and improving other key economic indicators is not going to be an easy task.

The Bank of England (BOE) continue to keep rates at the record low at 0.10%. Recent economic figures have been more positive than expected. With the rollout of vaccines and the ease of lockdowns on the horizon, the BOE expect an economic rebound from April 2021.

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

USDCAD

USDCAD 1 Hour Chart

USDCAD reversed around 1.2755, as suggested in our last chart analysis.

Price is down-trending. Price action has formed a bearish channel and USDCAD is currently pushing lower, signalling that the downtrend may continue. The moving averages confirm the potential downside – they are bearish and steady.

Shorting opportunities could exist around the dynamic resistance of the moving averages, around the bearish channel resistance area and around the horizontal levels at 1.2670 and 1.2755.

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The spread of COVID-19 continues to severely impact the Canadian economy. The BOC are expecting economic indicators to improve from April 2021.

The Federal Reserve have stated that the health risks associated with COVID will continue to weigh on economic activity, inflation and employment. The current rate is set at 0.25% (record lows). The Fed have suggested that rates may remain low until economic indicators show satisfactory improvement. They have stated that lowering the unemployment rate and improving other key economic indicators is not going to be an easy task.

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

USDCHF 

USDCHF 1 Hour Chart

As suggested in our previous chart analysis, USDCHF broke higher and then reversed around the trend resistance area.

Price continues to look indecisive. The moving averages are tightening and moving sideways, confirming the market indecision.

Trading opportunities may exist around the trend resistance area and around the horizontal levels at 0.8860, 0.8875, 0.8890 and 0.8935.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022.

The Federal Reserve have stated that the health risks associated with COVID will continue to weigh on economic activity, inflation and employment. The current rate is set at 0.25% (record lows). The Fed have suggested that rates may remain low until economic indicators show satisfactory improvement. They have stated that lowering the unemployment rate and improving other key economic indicators is not going to be an easy task.

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

USDJPY

USDJPY 1 Hour Chart

Price found resistance around 105.15, as suggested in our last chart analysis.

USDJPY has since closed higher and is currently bullish. Overall though, price continues to lack trend direction. The moving averages have been crossing frequently, confirming the market indecision.

Trading opportunities could exist around the diagonal support area, around the moving averages and around the horizontal levels at 104.40, 104.85, 105.15 and 105.70.

The Federal Reserve have stated that the health risks associated with COVID will continue to weigh on economic activity, inflation and employment. The current rate is set at 0.25% (record lows). The Fed have suggested that rates may remain low until economic indicators show satisfactory improvement. They have stated that lowering the unemployment rate and improving other key economic indicators is not going to be an easy task.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is performing well under the current COVID-19 economic crisis, relative to other 1st world countries.

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

XAUUSD

XAUUSD 1 Hour Chart

As suggested in our last chart analysis, price has been finding resistance around the shorter-term moving average.

GOLD continues to be indecisive. The moving averages are crossing frequently, confirming the market indecision. Price is also looking indecisive on higher time-frames – providing no clear indication of future price direction.

Trading opportunities may exist around the moving averages, around the diagonal resistance area and around the horizontal levels at 1786, 1833, 1851 and 1865.

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