• Latest
  • Trending
  • All
Euro struggles below three-month highs, yen demand persists

Dollar on the defensive but the selling pressure limited

May 12, 2020 14:05
Dollar lacks upside momentum due to lower Treasury yields

Dollar comes off fresh lows in volatile trading

May 27, 2022 06:55
Investor sentiment mixed in thinner pre-holiday deals

Investors cautiously optimistic ahead of the weekend

May 27, 2022 04:15
Dollar lacks upside momentum due to lower Treasury yields

USD back under pressure as market sentiment improves

May 26, 2022 06:57
Downbeat tone ahead of news from the US

Markets digest FOMC meeting minutes

May 26, 2022 06:46
Dollar lacks upside momentum due to lower Treasury yields

Dollar off one-month lows as bulls reenter the game

May 25, 2022 06:12
Market sentiment worsens across the world

Stocks bounce after another widespread sell-off

May 25, 2022 04:54
Dollar lacks upside momentum due to lower Treasury yields

Greenback trims losses, but stays offered nearly across the board

May 24, 2022 06:12
Global stocks in recovery mode but still cautious

Stocks back under pressure after short-lived relief rally

May 24, 2022 04:42
Dollar lacks upside momentum due to lower Treasury yields

Dollar keeps bleeding as bearish correction continues

May 23, 2022 06:27
Markets digest the inflation shock, dollar enjoys the rally

Dollar sags as investor sentiment keeps improving

May 23, 2022 05:09
Dollar lacks upside momentum due to lower Treasury yields

USD treads water after plunge, markets steady ahead of the weekend

May 20, 2022 06:21
Investor sentiment looks neutral at the start of the week

Modest bounce after sell-off ahead of the weekend

May 20, 2022 04:51
  • Terms & Сonditions
  • Contact
Saturday, May 28, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment mixed in thinner pre-holiday deals

    Investors cautiously optimistic ahead of the weekend

    Downbeat tone ahead of news from the US

    Markets digest FOMC meeting minutes

    Market sentiment worsens across the world

    Stocks bounce after another widespread sell-off

    Global stocks in recovery mode but still cautious

    Stocks back under pressure after short-lived relief rally

    Markets digest the inflation shock, dollar enjoys the rally

    Dollar sags as investor sentiment keeps improving

    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment mixed in thinner pre-holiday deals

    Investors cautiously optimistic ahead of the weekend

    Downbeat tone ahead of news from the US

    Markets digest FOMC meeting minutes

    Market sentiment worsens across the world

    Stocks bounce after another widespread sell-off

    Global stocks in recovery mode but still cautious

    Stocks back under pressure after short-lived relief rally

    Markets digest the inflation shock, dollar enjoys the rally

    Dollar sags as investor sentiment keeps improving

    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Dollar on the defensive but the selling pressure limited

Dollar on the defensive but the selling pressure limited

As long as the euro remains above 1.0780, the bearish potential is limited

by Joseph Deen
May 12, 2020 14:05
in Technical analysis
0
Euro struggles below three-month highs, yen demand persists

EURUSD

EURUSD has accelerated the ascent after some consolidation earlier in the day. The pair remains above the 1.08 figure but it is yet to make a decisive break above the 1.09 barrier to stage a more decisive rebound following the recent sell-off. Once firmly above 1.0870, the common currency will face another intermediate resistance of 1.0875. The daily RSI has turned slightly higher today but the bias is too modest to bet on more decisive gains in the short term. On the downside, meaningful support arrives at 1.0780. As long as the pair remains above this level, the bearish potential in the pair is limited.

GBPUSD

GBPUSD continues to challenge the 50-DMA around 1.2360. Despite a bullish bias on the intraday timeframes, the pair remains in a consolidative mode, with near-term risks are still skewed to the downside as long as the prices stay below at least 1.25. Once above, there are a few resistance levels in the form of the 100- and 200-DMAs around 1.27. In a wider picture, the pound is far off March highs at 1.32, and the technical picture on the weekly charts remains bearish as long as GBPUSD stays below the 50-SMA around 1.2640. If the cable fails to stage a sustainable recovery above 1.24 in the days to come, the sellers may reenter the market and send the prices back under 1.23.  

USDJPY

USDJPY is trading marginally lower on Tuesday after a rally witnessed yesterday. The pair was rejected from the 107.70 region and retreated slightly but remains above the 107.00 handle. On the daily timeframes, the dollar is now stuck between the 20- and 200-DMAs, and the short-term technical outlook remains neutral for the time being despite the daily RSI turned slightly bearish. On the four-hour charts, the pair’s upside potential is capped by the 200-SMA. The recent failed attempts to break above this moving average confirm that the bullish momentum in the pair is fragile and unsustainable. 

EURJPY

The cross has been rising for the fourth day in a row. Today, EURJPY has settled around 116.80 local highs that capped the upside momentum on Monday. Another failure to challenge this area may attract profit-taking in the short term. If so, the euro could slip back below the 116.00 handle. on the four-hour charts, the technical picture looks fairly upbeat as the prices have settled above the 50- and 100-SMAs recently. If the cross manages to hold at least around the current levels, it could make another attempt to challenge the above-mentioned resistance. However, it looks like the common currency will need the additional catalyst to make a decisive break above this barrier. 

USDCHF

USDCHF remains stuck between the 50- and 100-DMAs since last week. A few days ago, the bullish attempts were capped marginally below the 0.98 handle which remains the key hurdle for bulls. On the downside, the pair needs to cling to the 0.97 figure in order to avoid deeper losses towards the 0.9650 (50-DMA) handle and lower. The daily RSI is pointing slightly downwards, suggesting the path of least resistance is to the downside for the time being. In the four-hour charts, the greenback is challenging the 50-SMA, a break below which will clear the way toward 0.9680.

Tags: EURJPYEURUSDGBPUSDUSDCHFUSDJPY
Share4Tweet2
ADVERTISEMENT
Joseph Deen

Joseph Deen

Joseph is a technical analysis expert. A graduate of NYU, Joseph has a master's degree in mathematics. On FWNews, Joseph provides exchange rates reviews and forecasts.

Related Posts

Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar comes off fresh lows in volatile trading

May 27, 2022 06:55
13
Investor sentiment mixed in thinner pre-holiday deals
Fundamental analysis

Investors cautiously optimistic ahead of the weekend

May 27, 2022 04:15
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD back under pressure as market sentiment improves

May 26, 2022 06:57
15
Downbeat tone ahead of news from the US
Fundamental analysis

Markets digest FOMC meeting minutes

May 26, 2022 06:46
20
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar off one-month lows as bulls reenter the game

May 25, 2022 06:12
20
Market sentiment worsens across the world
Fundamental analysis

Stocks bounce after another widespread sell-off

May 25, 2022 04:54
21

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Federal Reserve Board releases a report, Fed Listens: Perspectives from the Public, summarizing the 15 Fed Listens events held by the Board and the Federal Reserve Banks since the beginning of 2019

June 12, 2020 02:10
10

Dallas Fed President Kaplan stresses need for more spending to keep economic recovery going

February 2, 2021 19:41
10
Stocks turn lower, dollar mixed amid a softer risk tilt

Stocks turn lower, dollar mixed amid a softer risk tilt

November 12, 2020 03:52
14

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
118
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2020 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2020 FWNews