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

Euro extends the ascent across the board, dollar demand remains muted

May 27, 2020 09:55
Equities struggle amid economic and China-related concerns

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
Dollar lacks upside momentum due to lower Treasury yields

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
Stocks gain, dollar eases ahead of job market data

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off the pressure

December 26, 2022 05:13
Investors spooked by strong US data

Investors spooked by strong US data

December 23, 2022 11:55
Dollar lacks upside momentum due to lower Treasury yields

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
Risk demand reemerges cautiously, but caution remains in place

Risk demand reemerges cautiously, but caution remains in place

December 21, 2022 08:49
Dollar lacks upside momentum due to lower Treasury yields

US dollar resists selling pressure

December 20, 2022 10:44
Market sentiment dented by recession fears

Market sentiment dented by recession fears

December 19, 2022 02:53
Dollar lacks upside momentum due to lower Treasury yields

Greenback stays on the defensive nearly across the board

November 16, 2022 05:34
Investor sentiment improves, but gains limited

Investor sentiment improves, but gains limited

November 15, 2022 05:46
Dollar lacks upside momentum due to lower Treasury yields

Dollar licks wounds after plunge

November 14, 2022 05:05
  • Terms & Сonditions
  • Contact
Tuesday, February 7, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

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

Home » Euro extends the ascent across the board, dollar demand remains muted

Euro extends the ascent across the board, dollar demand remains muted

EURJPY has been rallying for the third consecutive week

by Joseph Deen
May 27, 2020 09:55
in Technical analysis
0
Euro struggles below three-month highs, yen demand persists

EURUSD
After some hesitation earlier in the day, EURUSD resumed the ascent after a rally witnessed yesterday. As a result, the pair registered late-March highs around 1.1030 and retreated slightly afterwards. So, the euro is yet to confirm the latest breakout on a daily closing basis. If the pair finishes below 1.10, downside risks may reemerge. On the downside, the immediate support now arrives at 1.0960 where the 100-DMA lies. as long as the common currency remains above this region, the bulls are in control on the short-term timeframes.

GBPUSD
GBPUSD has settled around the 50-DMA as the upside momentum has faded after yesterday’s brief rally towards 1.2360. following a rejection from this area, the pair got back below 1.23 and it looks like the cable is ready for a consolidation phase around the mentioned moving average before it decides on further direction. In the short-term, the prices need to hold above the 1.2250 intermediate support in order to avoid a deeper downside correction. The daily RSI reversed south after a short-term recovery, suggesting downside risks continue to persist. 

USDJPY
USDJPY turned higher today after a modest decline seen on Tuesday. The pair bounced from intraday lows around 107.35 and climbed to 107.90, still staying shy of the 108.00 handle which is the key immediate barrier for dollar bulls. In general, the technical picture in the daily charts remains almost unchanged, with prices staying in a consolidative mode as long as the pair is trading below the 100- and 200-DMAs that nearly converge around 108.40. significant support still arrives marginally above the 117.00 figure. 

EURJPY
The cross has been rallying for the third day in a row on Wednesday, having extended gains to the 100-DMA that acts as a local resistance. Once above this moving average that comes around 118.50, EURJPY could retest today’s intraday highs marginally below 119.00 and continue its ascent to the next upside target in the form of the 200-DMA around 119.20. on the downside, significant support arrives at 118.10 and then at 117.40, where the 50-DMA arrives. On the weekly timeframes, the technical picture continues to improve as the pair has been rallying for the third consecutive week. 

USDCHF
USDCHF bounced strongly after the recent plunge and recouped nearly all yesterday’s losses on Wednesday. The pair peaked at 0.9730 earlier in the day and has retreated slightly since then, flirting with the 50-DMA at the writing. A daily close above this moving average that arrives around 0.97 will confirm the local recovery. Otherwise, the dollar may resume the downside movement in the short term. On the four-hourly charts, the pair has just created a long upper wick, suggesting the bullish potential is limited at this stage.

Tags: EURJPYEURUSDGBPUSDUSDCHFUSDJPY
Share3Tweet2
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

Equities struggle amid economic and China-related concerns
Fundamental analysis

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
12
Stocks gain, dollar eases ahead of job market data
Fundamental analysis

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar tries to shrug off the pressure

December 26, 2022 05:13
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

US dollar resists selling pressure

December 20, 2022 10:44
14

Leave Your Opinion Cancel reply

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

Recommended

Global stocks sharply lower amid a new coronavirus strain

Global markets at fresh record highs ahead of the weekend

August 13, 2021 06:15
14

Federal Reserve Board announces it has fined Bank Hapoalim B.M. $37.35 million for the firm’s unsafe and unsound practices resulting in violations of U.S. tax laws

April 30, 2020 20:30
10
Equities keep bleeding despite central banks’ efforts

Equities keep bleeding despite central banks’ efforts

March 16, 2020 05:57
16

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 © 2022 FWNews

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

Copyright © 2022 FWNews