TriumphFX Intraday Forex Analysis – 1 Hour Charts – November 25, 2021
Previous analysis… https://analysis.tfxi.sc/2021/11/24/triumphfx-intraday-forex-analysis-1-hour-charts-november-24-2021/
AUDUSD
As suggested in our last chart analysis, price has been bearish and has been finding resistance around the shorter-term moving average.
AUDUSD is clearly down-trending – price action has formed a long series of lower swing highs and lower swing lows. The moving averages are bearish and steady, signalling that the downtrend may continue.
Opportunities to go short could exist around the bearish moving averages, around the trend resistance area and around any of the horizontal levels at 0.7225, 0.7270 and 0.7290. An attempt to swing lower may find support around 0.7190.
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
Price reversed around the range support area and has been moving sideways, as suggested in our last analysis.
EURGBP is indecisive and is lacking trend momentum. Price was down-trending but is now moving within a horizontal channel at 0.8385-0.8425. The moving averages confirm the market indecision – they are tight and moving sideways. EURGBP is also indecisive on higher time-frames.
Trading opportunities may exist around the support and resistance areas of the channel and if price moves out of the channel (break-out trade). A break to the upside could find resistance around 0.8465.
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.
The Governor of the BOE will speak at 1700 UTC today.
EURUSD
As suggested in yesterday’s analysis, EURUSD has been bearish.
Price is clearly down-trending and is currently in a retrace move. The moving averages are bearish and steady, signalling that the downtrend may continue.
Shorting opportunities could exist around the bearish moving averages, around the trend resistance area and around the horizontal levels at 1.1230, 1.1265, 1.1290 and 1.1370. A bearish move may stall or reverse around the recent lows at 1.1190.
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 reversed around the shorter-term moving average and has swung lower, as suggested in yesterday’s chart analysis.
Price is down-trending. The moving averages are bearish and steady, suggesting that the downside momentum could continue. GBPUSD is up-trending on higher time-frames though and is currently testing a key support level, signalling a potential bullish move.
Selling opportunities may exist around the moving averages and around any of the horizontal levels at 1.3385, 1.3405, 1.3475 and 1.3510. A bearish move could find support around 1.3320.
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.
The Governor of the BOE will speak at 1700 UTC today.
USDCAD
As suggested in our last analysis, the USDCAD has broken below the trend support area.
Price is up-trending and is currently in a retrace move. The USDCAD is below the trend support area and the moving averages, signalling that upside momentum may be weakening – price may struggle to swing higher. The moving averages confirm this – they are tightening and are moving sideways.
Opportunities to go long could exist around any of the horizontal levels at 1.2635, 1.2590 and 1.2495. A bullish move may be rejected or reverse around the moving averages, around the previous trend support area (as resistance) and around any of the horizontal levels at 1.2660, 1.2700 and 1.2735.
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
The USDCHF has swung higher, as suggested in our last chart analysis.
Price is up-trending and is currently in a retrace move. The moving averages are bullish and steady, suggesting that the uptrend could continue. The USDCHF is indecisive on higher time-frames.
Long opportunities may exist around the longer-term moving average, around the trend support area and around the horizontal levels at 0.9270, 0.9250 and 0.9235. A bullish move could be rejected or reverse around the shorter-term moving average and around the recent swing high at 0.9365.
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
As suggested in yesterday’s analysis, price reversed around the shorter-term moving average and has swung higher.
The USDJPY is up-trending. The moving averages are bullish and steady, suggesting that the uptrend may continue. Price is also up-trending on higher time-frames.
Buying opportunities could exist around the dynamic support of the moving averages, around any of the key Fib levels and around any of the horizontal levels at 115.20, 114.90, 114.60 and 114.45. A bullish move may find resistance around 115.45.
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
Price has been moving sideways.
GOLD is down-trending and is currently in a retrace move. The moving averages are bearish and widening, signalling that the downtrend could continue.
Opportunities to go short may exist around the dynamic resistance of the moving averages, around any of the key Fib levels and around any of the horizontal levels at 1797, 1822, 1832, 1844 and 1850. A bearish move could be rejected or reverse around the horizontal support levels at 1782 and 1762.
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