TriumphFX Intraday Forex Analysis – 1 Hour Charts – July 19, 2021


Previous analysis… https://analysis.dehuifx.com/2021/07/15/triumphfx-intraday-forex-analysis-1-hour-charts-july-15-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in our last chart analysis, the AUDUSD broke below the range support area and has since been bearish.

Price is below the recent consolidation area and is down-trending again. The moving averages confirm the trend – they are bearish and widening. The AUDUSD is also down-trending on higher time-frames.

Selling opportunities could exist around the dynamic resistance of the moving averages and around any of the horizontal levels at 0.7410, 0.7440 and 0.7485.

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.

Australian monetary policy meeting minutes will be released at 0130 UTC.

EURGBP

EURGBP 1 Hour Chart

The EURGBP has been bullish.

Price was showing signs of a potential downtrend but is now looking indecisive again. The EURGBP has re-entered a consolidation area. The moving averages confirm the market indecision – they have been crossing frequently.

Trading opportunities may exist around the moving averages and around the horizontal levels at 0.8535, 0.8565 and 0.8615.

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 our last analysis, price has reversed around 1.1820.

The EURUSD continues to be indecisive and lack trend momentum. Recent price action has formed a series of lower swing highs and lows though, suggesting a potential downtrend. The moving averages currently confirm this – they are bearish and steady.

Shorting opportunities could exist around the dynamic resistance of the moving averages and around any of the horizontal levels at 1.1820, 1.1850, 1.1880 and 1.1900. A bearish move may stall or reverse around 1.1775.

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

Price was rejected around the horizontal channel support and resistance areas, as suggested in our last analysis.

The GBPUSD is now down-trending – price action has formed a series of lower swing highs and lower swing lows. The moving averages are bearish and steady – confirming the trend.

Opportunities to go short may exist around the moving averages, around the trend resistance area and around any of the horizontal levels at 1.3740, 1.3760 and 1.3805.

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 chart analysis, USDCAD reversed around the shorter-term moving average and has since been bullish.

Price is clearly up-trending. The moving averages are bullish and steady, suggesting that the uptrend may continue.

Buying opportunities could exist around the dynamic support of the moving averages, around the trend support area and around the horizontal levels at 1.2610, 1.2580, 1.2530 and 1.2430.

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

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

Price continues to be indecisive and lack trend direction. The moving averages confirm the market indecision – they have been crossing frequently.

Trading opportunities may exist around the moving averages and around any of the horizontal levels at 0.9120, 0.9135, 0.9165, 0.9200, 0.9260 and 0.9275.

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 our last analysis, price has been moving sideways.

USDJPY continues to lack trend direction. The moving averages confirm the indecision – they have been crossing frequently and are moving sideways.

Trading opportunities could exist around the moving averages and around any of the horizontal levels at 109.55, 109.75, 110.30, 110.40, 110.60 and 110.75.

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

Price has been bearish.

GOLD is up-trending and is currently in a strong retrace move. The moving averages are tightening and price is below the moving averages, all suggesting that GOLD could struggle to swing higher.

Long opportunities may exist around the horizontal levels at 1797, 1792 and 1773. A bullish move could be rejected or reverse around the moving averages and around the horizontal levels at 1817 and 1832.

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