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

The risk-on tone is reflected in currency markets

June 12, 2020 04:49
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, March 28, 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 » The risk-on tone is reflected in currency markets

The risk-on tone is reflected in currency markets

The euro needs to make a decisive break above 1.14 to see a bullish extension

by Joseph Deen
June 12, 2020 04:49
in Technical analysis
0
Euro struggles below three-month highs, yen demand persists

EURUSD
EURUSD turned mildly positive on the day after a dip to 1.1275 earlier. At the time of writing, the pair is trying to regain the 1.13 handle while the intraday highs were registered around 1.1340. Despite a decent retreat witnessed yesterday, the common currency remains within a bullish trend and still looks set to challenge the 1.14 barrier once again. However, the prices need to make a decisive break above this handle in order to see a bullish extension. The daily RSI is close to overbought levels, suggesting the upside potential is limited at the moment. So, some consolidation could be expected in the immediate term before the euro decides on further direction.

GBPUSD
During earlier bearish attempts, GBPUSD derived support from the 100-DMA around 1.2540 on Friday. As a result, the pair bounced and regained the 1.26 handle, with the 200-DMA acting as the immediate resistance. As the daily RSI has corrected lower from the overbought territory and turned neutral, it is possible that the pound will spend some time in a consolidation mode, or even will see a deeper retreat before the bulls reenter the market. On the weekly timeframes, the pair is finishing the week in the red but still looks bullish, clinging to the 50-weekly MA. 

USDJPY
During the latest sell-off, USDJPY managed to hold above the 106.50 region and bounced from one-month lows. As a result of a local upside correction, the dollar regained 107.00 and registered intraday highs around 107.55. The daily RSI reversed north and is now pointing higher, suggesting the recovery could continue in the short term. On the four-hour charts, the technical picture has improved substantially since the start of the say, as the dollar has exceeded the 20-SMA and is now challenging the 200-SMA. However, the pair remains on the defensive in the longer term, with USDJPY staying below the key daily moving averages following a four-day losing streak. 

EURJPY
The cross declined to early-June lows during the Asian hours but reversed quickly and saw a strong local rally towards 121.80. However, the prices have retreated since then, changing hands around 121.30 at the time of writing. It looks like the euro has found a bottom following five consecutive days of losses and ready for an upside correction now. Of note, the pair managed to hold above the key moving averages during the recent sell-off, suggesting bearish risks are limited at this stage. A daily close above 121.00 will confirm the recent bounce and signal some improvements in the technical picture on the daily charts. 

USDCHF
USDCHF plunged to three-month lows below 0.94 yesterday. As the pair reversed losses quickly, a long lower wick was created on the intraday timeframes. On Friday, the pair’s bullish attempts were capped by the 0.9480 region. As a reminder, the dollar started the week at 0.9640 and thus sees deep losses on the weekly charts. In the short-term, the greenback needs to hold above the 0.94 figure so that to avoid another sell-off that could threaten the mentioned multi-week lows. On the upside, a decisive break above 0.95 will signal further easing in the selling pressure surrounding the dollar. 

Tags: EURJPYEURUSDGBPUSDUSDCHFUSDJPY
Share2Tweet2
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

Stocks mostly higher, dollar pares losses

Stocks mostly higher, dollar pares losses

May 26, 2021 05:39
16
Pound corrects higher due to dollar weakness

Dollar finishes the week on weak footing

October 22, 2021 13:09
15
Tech analysis

The yen gains across the board as markets driven by bearish fundamentals

February 25, 2020 06:47
22

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