TriumphFX Intraday Forex Analysis – 1 Hour Charts – June 30, 2021


Previous analysis… https://analysis.dehuifx.com/2021/06/29/triumphfx-intraday-forex-analysis-1-hour-charts-june-29-2021/

AUDUSD

AUDUSD 1 Hour Chart

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

AUDUSD is indecisive and lacking trend direction. The moving averages have been crossing frequently – confirming the market indecision.

Trading opportunities may exist around the moving averages and around the horizontal levels at 0.7480, 0.7500, 0.7540, 0.7610 and 0.7675.

The Reserve Bank of Australia (RBA) continue to keep the official interest rate at the record low of 0.10%. The rate is currently forecast to stay the same until 2024. Unemployment rates are expected to over coming months. An unemployment rate of 6% is expected for the end of 2021.

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 US economy is bouncing back quicker than expected originally.

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

EURGBP

EURGBP 1 Hour Chart

Price has been finding resistance around the range resistance area, as suggested in yesterday’s chart analysis.

EURGBP continues to be indecisive. Price is slightly above the range resistance area and the moving averages are bullish, suggesting that price may move higher.

Trading opportunities could exist around the moving averages and around any of the identified horizontal levels at 0.8535, 0.8570, 0.8585, 0.8605, 0.8620 and 0.8640.

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 a strong economic rebound during 2021.

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

EURUSD

EURUSD 1 Hour Chart

As suggested in yesterday’s chart analysis, EURUSD has reversed around 1.1885.

Price continues to be indecisive and lack trend momentum. The moving averages have been crossing frequently and are moving sideways – confirming the market indecision.

Trading opportunities may exist around the moving averages and around the horizontal levels at 1.1850, 1.1885, 1.1975 and 1.2095.

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 US economy is bouncing back quicker than expected originally.

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

GBPUSD has been bearish and has swung lower, as suggested in yesterday’s chart analysis.

Price is down-trending within a bearish channel. The moving averages are bearish and steady, signalling that the downtrend may continue. GBPUSD is up-trending on higher time-frames, suggesting a potential bullish move.

Selling opportunities could exist around the dynamic resistance of the moving averages, around the bearish channel resistance area and around the horizontal levels at 1.3860, 1.3935 and 1.4000. A bearish move may be rejected or reverse around the channel support area and around the recent lows at 1.3795.

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 a strong economic rebound during 2021.

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 US economy is bouncing back quicker than expected originally.

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

USDCAD

USDCAD 1 Hour Chart

As suggested in our last analysis, price has been bullish.

The USDCAD is up-trending and is currently attempting a bullish move higher. The moving averages are bullish and widening, signalling that the uptrend could continue.

Buying opportunities may exist around the dynamic support of the moving averages, around the trend support area and around the horizontal levels at 1.2355, 1.2340, 1.2275 and 1.2255. A bullish move could stall or reverse around 1.2400 and 1.2470.

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 US economy is bouncing back quicker than expected originally.

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The BOC are expecting economic indicators to improve from April 2021 but have confessed that there is a great deal of uncertainty around the current pandemic and the path to economic recovery and growth.

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

USDCHF 

USDCHF 1 Hour Chart

Price broke above the range resistance area but then reversed around 0.9230, as suggested in our last analysis.

The USDCHF is now ranging between 0.9145-0.9230. The moving averages confirm the market indecision – they are moving sideways and crossing frequently.

Trading opportunities could exist around the support and resistance areas of the range and if the USDCHF moves out of the range (break-out trade).

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 SNB are expecting economic growth from the 2nd quarter of 2021.

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 US economy is bouncing back quicker than expected originally.

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

USDJPY

USDJPY 1 Hour Chart

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

Price is indecisive and lacking trend direction. The moving averages are bearish and price action has formed a bearish channel, all suggesting that the USDJPY could become bearish.

Trading opportunities may exist around the moving averages, around the support and resistance areas of the bearish channel and around the horizontal levels at 109.80, 110.45, 110.70, 110.95 and 111.05. If price closes below 110.45, the USDJPY could attempt a bearish move.

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 US economy is bouncing back quicker than expected originally.

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

GOLD has been bearish.

Price has closed below the horizontal channel support area, suggesting a potential downtrend. The moving averages confirm this – they are bearish and widening.

Opportunities to go short could exist around the moving averages, around the trend resistance area and around the horizontal levels at 1773, 1788 and 1794. GOLD may find support around the recent lows at 1754.

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