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

Euro gives up bullish attempts despite the waning dollar demand

July 1, 2020 09:36
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 » Euro gives up bullish attempts despite the waning dollar demand

Euro gives up bullish attempts despite the waning dollar demand

EURJPY failed to retain the upside momentum and turned negative on Wednesday

by Joseph Deen
July 1, 2020 09:36
in Technical analysis
0
Euro struggles below three-month highs, yen demand persists

EURUSD
EURUSD retains its bearish bias after rejection from local highs around 1.1250 earlier in the day, having registered more than one-week lows below 1.12. The pair managed to bounce partially since then but remained in the red on the daily timeframes, suggesting the recovery potential remains weak, with bearish risks persisting at this stage. Failure to firmly regain the 1.12 handle could bring deeper losses in the days to come. If so, the 1.1170 support will come back into the market focus. The daily RSI is pointing slightly lower, confirming the prevailing downside momentum. 

GBPUSD
GBPUSD regained the upside impetus after failed bearish attempts earlier in the day. The cable gradually dipped to 1.2360 but attracted demand at lower levels and bounced, challenging the 50-DMA again. This moving average that lies marginally above the 1.24 handle, will determine the short-term trend in the pair. A daily close above this level will act as a confirmation of the ongoing recovery. Otherwise, fresh losses could lie ahead for sterling that plunged to one-month lows and bounced aggressively on Tuesday. On the weekly timeframes, the pair still looks vulnerable with the technical picture being bearish.  

USDJPY
Following failed attempts to break above the 108.00 handle earlier in the day, where three-week highs arrive, USDJPY retreated aggressively as traders preferred to proceed to profit-taking following five days of gains. As a result, the greenback briefly dipped below the 20-DMA and has settled around it since then. This moving average remains in market focus for the time being, acting as the intermediate support on the way towards 107.00. On the upside, the pair needs to make a decisive break above the 100-DMA so that to regain the bullish momentum. 

USDCHF
USDCHF turned marginally higher on Wednesday after yesterday’s rejection from mid-June highs around 0.9530. The greenback failed to challenge this local resistance once again and retreated below 0.95. Despite the current bullish bias, the pair remains under this level which is the key immediate hurdle for bulls now. On the four-hour charts, USDCHF is changing hands at a critical short-term level represented by the 50-SMA. The prices need to make a decisive break above this moving average to see a more robust upside momentum. A break above 0.95 will improve the near term technical picture for the dollar.

EURJPY
EURJPY closed above 121.00 for the first time in three weeks yesterday. However, the cross failed to retain the upside momentum and turned negative on Wednesday following two days of gains. The euro encountered resistance on the 121.50 area and plunged to 120.25 in recent trading. The prices managed to recoup some losses since then but remained on the defensive. On the positive side, the pair is trading above the key moving averages that act as support levels. On the weekly timeframes, the common currency bounced from the 50-DMA earlier this month, with bullish bias prevailing since then. 

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

Dollar lacks upside momentum due to lower Treasury yields

Dollar came off tops, but stays elevated

May 2, 2022 11:04
14
Dollar lacks upside momentum due to lower Treasury yields

Greenback stays afloat, albeit off recent local highs

January 6, 2022 03:21
10
Stocks rebound marginally, dollar demand persists

Stock markets mixed to start the week

March 15, 2021 06:34
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