TriumphFX Intraday Forex Analysis – 1 Hour Charts – November 18, 2021


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Previous analysis… https://analysis.tfxi2.com/2021/11/17/triumphfx-intraday-forex-analysis-1-hour-charts-november-17-2021/

AUDUSD

AUDUSD 1 Hour Chart

As suggested in yesterday’s chart analysis, the AUDUSD has been bearish.

Price is down-trending and is currently finding resistance around the shorter-term moving average, as also suggested in yesterday’s analysis. The moving averages are bearish and widening, signalling that the downtrend could continue. The AUDUSD is around a key support level on higher time-frames, suggesting a potential bullish move.

Selling opportunities may exist around the dynamic resistance of the moving averages, around the trend resistance area and around any of the horizontal levels at 0.7370, 0.7385 and 0.7430. A bearish move could be rejected or reverse around the recent lows at 0.7255.

The Reserve Bank of Australia (RBA) continues to keep the official interest rate at the record low of 0.10%. The rate is could stay the same until 2024. The RBA are expecting an economic bounce back during 2022.

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 and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

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

EURGBP

EURGBP 1 Hour Chart

The EURGBP reversed around 0.8425 and swung lower, as suggested in yesterday’s analysis.

Price action has formed a large bearish move, signalling a potential downtrend. The moving averages confirm this – they are bearish and steady. Price continues to be indecisive on higher time-frames.

Shorting opportunities could exist around the bearish moving averages, around any of the key Fib levels and around any of the horizontal levels at 0.8425, 0.8440, 0.8465 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. Inflation targets and economic growth forecasts have been lifted for this year.

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, although inflation fears have been mentioned by many.

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 been finding resistance around the 38.2% Fib level.

The EURUSD is clearly down-trending – price action has formed a series of lower swing highs and lower swing lows. The moving averages are bearish and steady, signalling that the downtrend could continue. Price is also down-trending on higher time-frames.

Opportunities to go short may exist around any of the key Fib levels, around the dynamic resistance of the moving averages and around the horizontal levels at 1.1435 and 1.1460. A bearish move could stall or reverse around the recent swing low at 1.1290.

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 and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

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. Inflation targets and economic growth forecasts have been lifted for this year.

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

GBPUSD

GBPUSD 1 Hour Chart

Price has been bullish.

The GBPUSD has formed a short series of higher swing highs and higher swing lows and has swung above the trend resistance area, suggesting the start of a potential uptrend. The moving averages confirm this – they are bullish and steady.

Buying opportunities could exist around the dynamic support of the moving averages, around the previous trend resistance area (as support) and around any of the horizontal levels at 1.3470, 1.3405 and 1.3355. A bullish move may be rejected or reverse around the horizontal resistance levels at 1.3605 and 1.3695.

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 and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

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, although inflation fears have been mentioned by many.

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 moving averages and has swung higher.

Price is up-trending. The moving averages are bullish, signalling that the uptrend could continue.

Long opportunities may exist around the dynamic support of the moving averages, around the trend support area and around any of the horizontal levels at 1.2545, 1.2495, 1.2475 and 1.2460.

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.

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 and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

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

USDCHF

USDCHF 1 Hour Chart

USDCHF has been finding support around the 38.2% Fib level, as suggested in our last analysis.

Price is up-trending and is currently in a retrace phase. The moving averages are bullish and widening, suggesting that the uptrend may continue.

Opportunities to go long could exist around the longer-term moving average, around any of the key Fib levels and around the horizontal levels at 0.9235, 0.9190 and 0.9170. A bullish move may stall or reverse around the shorter-term moving average and around the recent swing high at 0.9320.

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 and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

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.

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

USDJPY

USDJPY 1 Hour Chart

Price has been bearish.

USDJPY was showing signs of a potential uptrend but is now looking indecisive again. The moving averages confirm the market indecision – they are moving sideways.

Trading opportunities may exist around the moving averages and around any of the horizontal levels at 112.75, 113.30, 113.65, 113.75, 114.30 and 114.90.

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 but some analysts are stating that the Japanese economy is stagnant and may experience economic challenges in the coming months.

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 and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

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

XAUUSD

XAUUSD 1 Hour Chart

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

GOLD is indecisive and is lacking trend direction. The moving averages confirm the market indecision – they are tight and are moving sideways. If price closes above the 1874 highs, GOLD may start up-trending again.

Trading opportunities could exist around the moving averages and around any of the horizontal levels at 1803, 1832, 1844, 1850 and 1875.

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