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

European currencies give up earlier bullish attempts

June 18, 2020 10:12
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
Wednesday, March 22, 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 » European currencies give up earlier bullish attempts

European currencies give up earlier bullish attempts

Cable plunged to early-June lows, having extended losses to 1.2445

by Joseph Deen
June 18, 2020 10:12
in Technical analysis
0
Euro struggles below three-month highs, yen demand persists

EURUSD 
EURUSD has been suffering losses for a third day in a row. Today, the pair faced the immediate resistance around 1.1260 where the bears reentered the game. At the same time, the prices continue to derive support from the 1.12 handle which if withstands the pressure could act as a catalyst for a bounce. On the four-hour charts, the common currency is flirting with the 100-SMA around 1.1230 that could cap further bearish attempts. However, as the daily RSI is pointing south, it looks like the downside bias will persist in the immediate term. 

GBPUSD
Cable plunged to early-June lows during recent trading, having extended losses to 1.2445, just above the 50-DMA. The pair failed to stage a sustainable recovery above 1.25 and briefly dipped below the 100-DMA as the selling pressure reemerged on bullish attempts. As a result, GBPUSD turned negative on the weekly timeframes and retreated under the 50-weekly MA. The technical picture could deteriorate further if the prices fail to get back above the 1.25 barrier in the short term. 

USDJPY
USDJPY continues to edge lower on Thursday after a rejection from this week’s highs around 107.60. The pair got back below the 107.00 handle. down to 106.70. If this level withstands the selling pressure, a bounce could be expected. On the negative side, the dollar remains well below the key moving averages while the daily RSI continues to point downwards, suggesting the pair will likely stay on the defensive, at least in the immediate term. On the upside, the initial target for bulls arrives at 107.00.   

USDCAD
USDCAD is little changed on the day during the European hours. The pair remains stuck between the 100- and 200-DMAs on the daily charts, clinging to the lower end of the range. The intraday support arrives at 1.3520 while on the upside, the 0.36 handle acts as the key local hurdle for bulls. On the weekly timeframes, the dollar remains bearish as long as the prices stay below 1.39. On the other hand, there is a significant support in the form of the 100-weekly MA that comes marginally above 1.33. as long as the prices stay above this level, bearish risks are limited.   

EURGBP
The cross sees the largest gain in two weeks on Thursday, having exceeded the 0.90 handle once again. However, the pair is yet to confirm the breakout on a daily closing basis. At the time of writing, the euro was flirting with the mentioned psychological mark, showing signs of waning upside momentum. It a downside correction takes place, the price will first derive support around 1.8970 and then will target the 1.8950 area. On the four-hour timeframes, the technical picture looks more upbeat, with the prices staying well above the 50- and 100-SMAs that converge around 0.8950, giving the additional significance to this support area. 

Tags: EURJPYEURUSDGBPUSDUSDCADUSDJPY
Share4Tweet3
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

Russian ruble licks wounds at all-time lows

Euro continues to oscillate around parity as USD stays elevated

July 14, 2022 06:03
18
Global stocks rally ahead of the weekend, dollar on the defensive

Global stocks rally ahead of the weekend, dollar on the defensive

October 15, 2021 02:54
12
Stock markets digest quarterly earnings, currencies steady

Stock markets digest quarterly earnings, currencies steady

October 27, 2021 12:13
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 © 2022 FWNews

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

Copyright © 2022 FWNews