TriumphFX Intraday Forex Analysis – 1 Hour Charts – September 13, 2021


Previous analysis… https://analysis.dehuifx.com/2021/09/10/triumphfx-intraday-forex-analysis-1-hour-charts-september-10-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in Friday’s chart analysis, the AUDUSD has found support around 0.7335.

Price was showing signs of a potential uptrend, price is now just looking indecisive though. The moving averages confirm the market indecision – they are tightening and are moving sideways.

Trading opportunities may exist around the moving averages and around any of the horizontal levels at 0.7225, 0.7280, 0.7290, 0.7335, 0.7410 and 0.7460.

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. COVID continues to put weight on economic recovery and GDP.

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 originally expected.

The Governor of the RBA will speak at 0245 UTC.

EURGBP

EURGBP 1 Hour Chart

The EURGBP has been bearish and has reversed around 0.8545, as suggested in Friday’s chart analysis.

Price is down-trending. The moving averages are bearish and widening, signalling that the downtrend may continue. The EURGBP is indecisive on higher time-frames though, suggesting that price may become indecisive on lower time-frames.

Selling opportunities could exist around the dynamic resistance of the moving averages and around any of the horizontal levels at 0.8545, 0.8550, 0.8560 and 0.8575. A bearish move may be rejected or reverse around the recent lows at 0.8520.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They have said that no rate change is expected in the near or distant future. 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

Price has been bearish.

The EURUSD has been bearish and has swung lower. Price action has formed a short series of lower swing highs and lower swing lows – price is down-trending. The moving averages are bearish and steady, signalling that the downtrend could continue.

Shorting opportunities may exist around the dynamic resistance of the moving averages, around the trend resistance area and around the horizontal levels at 1.1800, 1.1810, 1.1850 and 1.1880. A move lower could stall or reverse around any of the horizontal levels at 1.1775, 1.1750 and 1.1725.

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 originally expected.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They have said that no rate change is expected in the near or distant future. 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 last chart analysis, price reversed around 1.3890.

The GBPUSD is indecisive and is lacking trend direction. The moving averages confirm the market indecision – they have been crossing frequently and are moving sideways. Price is ranging between 1.3735 and 1.3890.

Trading opportunities could exist around the support and resistance areas of the range and if the GBPUSD moves out of the range (break-out trade). A break to the downside may find support around 1.3705 and 1.3680.

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 originally expected.

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

USDCAD

USDCAD 1 Hour Chart

USDCAD has reversed around 1.2580, as suggested in our last analysis.

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

Trading opportunities may exist around the moving averages and around any of the horizontal levels at 1.2505, 1.2555, 1.2580 and 1.2725.

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 originally expected.

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.

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

USDCHF 

USDCHF 1 Hour Chart

As suggested in Friday’s analysis, USDCHF reversed around the diagonal support area and has been bullish.

Price is up-trending and is approaching a recent swing high. Price action has formed a number of higher swing lows and USDCHF continues to be above the recent consolidation area, suggesting that the uptrend may continue. The moving averages have been crossing frequently though – signalling market indecision.

Buying opportunities could exist around the moving averages, around the trend support area and around the horizontal levels at 0.9185, 0.9165, 0.9150 and 0.9135. A bullish move may find resistance around the recent swing high at 0.9220.

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 Swiss economy is recovering from COVID and seems stable.

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 originall expected.

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

USDJPY

USDJPY 1 Hour Chart

Price has been bullish.

USDJPY continues to be indecisive. The moving averages confirm the market indecision – they have been crossing frequently and are moving sideways. Price is ranging between 109.60 and 110.40.

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

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 originally expected.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is expected to make a moderate recovery from the COVID crisis.

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 was rejected around 1783.

GOLD has become indecisive and is lacking trend direction. The moving averages are tightening and moving sideways – confirming the current indecision.

Trading opportunities could exist around the moving averages and around any of the horizontal levels at 1778, 1784, 1803, 1807 and 1821.

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