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


Previous analysis… https://analysis.dehuifx.com/2021/09/14/triumphfx-intraday-forex-analysis-1-hour-charts-september-14-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in yesterday’s chart analysis, the AUDUSD reversed around the moving averages and has been bearish.

Price is clearly down-trending – price action has formed a series of lower swing highs and lower swing lows. The AUDUSD is trending within a bearish channel. The moving averages are bearish and widening, suggesting that the downtrend could continue.

Selling opportunities may exist around the dynamic resistance of the moving averages, around the bearish channel resistance area and around any of the horizontal levels at 0.7335, 0.7375 and 0.7405. A bearish move could find support around the channel support area and around the horizontal levels at 0.7290, 0.7280 and 0.7225.

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.

Australian employment change and unemployment rate figures will be released at 0130 UTC.

EURGBP

EURGBP 1 Hour Chart

The EURGBP reversed around the horizontal level at 0.8560, as suggested in yesterday’s chart analysis.

Price has been down-trending and is currently in a strong retrace move. The EURGBP is above the moving averages and the moving averages are tightening and could cross bullish, all suggesting that price may struggle to swing lower.

Shorting opportunities could exist around the horizontal levels at 0.8560 and 0.8575. A bearish move may be rejected or reverse around the moving averages and around any of the horizontal levels at 0.8540, 0.8535 and 0.8510.

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

As suggested in our last chart analysis, price reversed around 1.1850.

The EURUSD is down-trending and is currently in a retrace move. The recent swing high is almost as high as the previous swing high, suggesting that downside momentum could be weakening. The moving averages confirm this – they are bearish but are starting to move sideways.

Opportunities to go short may exist around the dynamic resistance of the moving averages and around the horizontal levels at 1.1840, 1.1850 and 1.1880. A bearish move could find support around any of the horizontal support levels at 1.1800, 1.1785, 1.1775 and 1.1745.

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

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

The GBPUSD swung above the range resistance area but has since been bearish. Price continues to be indecisive and lack trend momentum. The moving averages confirm the market 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 1.3680, 1.3735, 1.3795, 1.3890 and 1.3900.

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

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

Price continues to be indecisive. The moving averages have been crossing frequently and are moving sideways – confirming the current indecision. Price action has formed a series of higher swing lows and a diagonal support area, signalling the start of a potential move higher.

Buying opportunities may exist around the moving averages, around the trend support area and around the horizontal levels at 1.2690, 1.2610, 1.2590, 1.2580 and 1.2555.A bullish move could stall or reverse around 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.

A Canadian CPI figure will be released at 1230 UTC today.

USDCHF 

USDCHF 1 Hour Chart

USDCHF found support around 0.9185, as suggested in yesterday’s chart analysis.

Price continues to be choppy but uptrend. The moving averages are currently bullish, suggesting that the uptrend may continue.

Long opportunities could exist around the longer-term moving average, around the trend support area and around any of the horizontal levels at 0.9185, 0.9165, 0.9150 and 0.9135. A bullish move may find resistance around the shorter-term moving average and around the recent swing high at 0.9235.

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

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

USDJPY is below the recent consolidation area and has formed a potential bearish channel, all signalling a potential downtrend. The moving averages confirm the potential downside – they are bearish and steady.

Selling opportunities may exist around the dynamic resistance of the moving averages, around the bearish channel resistance area and around the horizontal levels at 109.65, 109.70 and 110.15.

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

Price reversed around 1807, as suggested in yesterday’s analysis.

GOLD continues to be indecisive and lack trend momentum. Price action has formed a higher swing high though and the moving averages have crossed bullish, suggesting potential upside.

Opportunities to go long could exist around the dynamic support of the moving averages and around the horizontal support area at 1784. A bullish move may be rejected or reverse around the horizontal levels at 1806, 1821 and 1831.

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