• Latest
  • Trending
  • All
Tech analysis

Euro consolidates its recent gains, GBP rallies

July 29, 2020 10:04
Dollar lacks upside momentum due to lower Treasury yields

Dollar regains ground after a three-day sell-off

May 18, 2022 06:09
Chinese data spooks investors, sentiment turns sour

Stock markets turn directionless after a bounce

May 18, 2022 05:08
Dollar lacks upside momentum due to lower Treasury yields

Currencies enjoy a bounce amid a weaker USD

May 17, 2022 06:51
Sentiment turns sour, dollar steadies ahead of the weekend

USD gives up gains as risk sentiment improves further

May 17, 2022 04:52
Dollar lacks upside momentum due to lower Treasury yields

Dollar off tops but resilient

May 16, 2022 05:44
Stocks mostly lower despite upbeat economic data

Markets failed to extend the bounce, back under pressure

May 16, 2022 04:38
Dollar lacks upside momentum due to lower Treasury yields

Dollar refrains from a deeper retreat

May 13, 2022 06:04
Dollar lacks upside momentum due to lower Treasury yields

The greenback seems unstoppable

May 12, 2022 06:34
Risk sentiment looks mixed, dollar retreats marginally

Dollar at fresh highs while stock markets keep bleeding

May 12, 2022 06:21
Dollar lacks upside momentum due to lower Treasury yields

Dollar bulls take a pause, US data eyed

May 11, 2022 07:22
Stocks continue to give up gains ahead of US jobs data

Stocks bounce ahead of US inflation report

May 11, 2022 07:09
Dollar lacks upside momentum due to lower Treasury yields

Dollar holds steady after local correction

May 10, 2022 10:16
  • Terms & Сonditions
  • Contact
Wednesday, May 18, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    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

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

    Dollar at fresh highs while stock markets keep bleeding

    Stocks continue to give up gains ahead of US jobs data

    Stocks bounce ahead of US inflation report

    Investors stay nervous as tensions escalate

    Markets look for rebound after a major sell off

    Stock markets rebound on strong corporate earnings

    Recession worries keep markets on the defensive

    A mixed start to the week in the global markets

    Markets a sea of red ahead of US jobs data

    Geopolitics pushes global markets south, dollar bulls back in the game

    Post-Fed rally fades, USD recovers

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

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

    Dollar at fresh highs while stock markets keep bleeding

    Stocks continue to give up gains ahead of US jobs data

    Stocks bounce ahead of US inflation report

    Investors stay nervous as tensions escalate

    Markets look for rebound after a major sell off

    Stock markets rebound on strong corporate earnings

    Recession worries keep markets on the defensive

    A mixed start to the week in the global markets

    Markets a sea of red ahead of US jobs data

    Geopolitics pushes global markets south, dollar bulls back in the game

    Post-Fed rally fades, USD recovers

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

Home » Euro consolidates its recent gains, GBP rallies

Euro consolidates its recent gains, GBP rallies

USDCHF plunged to fresh five-year lows around 0.9140 and bounced marginally

by Joseph Deen
July 29, 2020 10:04
in Technical analysis
0
Tech analysis

EURUSD
EURUSD consolidates its recent gains after a short-lived bearish correction witnessed on Tuesday. The bullish trend remains intact and will likely persist in the days to come as bearish attempts are being capped by the 1.17 handle that now acts as the immediate significant support. Once above the 1.1780 two-year highs, the common currency could make a decisive break above the 1.18 barrier and turn this level into resistance. Should traders proceed to profit-taking, a correction below 1.17 will open the way to the 1.1650 intermediate support.  

GBPUSD
GBPUSD climbed to fresh March highs on Wednesday, extending the rally amid widespread dollar weakness. The pair rose to the 1.2985 area, and now the 1.30 handle comes into market focus. This level, once/if reached, could cause a pullback amid profit-taking. However, as the daily RSI hasn’t yet entered the overbought territory, with the pair being above the key moving averages, the path of least resistance remains to the upside. The immediate support now arrives at 1.29 where the 200-DMA lies. Once below it, the prices will target the 100-DMA in the 1.2745 area. 

USDJPY
USDJPY dipped to fresh March lows around 104.80 earlier in the day but managed to trim intraday losses recently. The pair is clinging to the 105.00 figure which is the key in the short term. A daily close below this level will be dollar-negative and could open the way to further losses despite oversold conditions. From a wider perspective, the pair needs to get back above the 20-DMA around 106.80 in order to shrug off the selling pressure. So far, it looks like the greenback is ready to stay on the defensive at least in the short term. 

USDCHF
USDCHF plunged to fresh five-year lows around 0.9140 today. The pair managed to bounce since then but remains vulnerable, struggling to regain the 0.92 handle that acts as the immediate target for bulls. The daily RSI shows a modest bearish bias in the oversold territory. Despite this, downside risks for the dollar continue to persist, with fresh long-term lows could be in sight. On the four-hour timeframes, the technical picture looks more positive, with the RSI making recovery attempts. Should the dollar fail to cling to the 0.9170 area, the 0.91 support will come into market focus.

EURGBP
The cross remained depressed on Wednesday and dipped to over one-week lows below mid-0.9000s in recent trading. This level now acts as the immediate key support, a break below which will bring more losses in the short term. On the other hand, the daily RSI looks neutral and doesn’t show any clear bearish signals, suggesting downside risks for the euro being limited at this stage. Besides, the mentioned psychological support is strengthened by the 50-DMA that should trigger a bounce. In case of a recovery, EURGBP will target the 0.9085 intermediate resistance that capped bullish attempts earlier in the day. 

Tags: EURGBPEURUSDGBPUSDUSDCHFUSDJPY
Share2Tweet1
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 regains ground after a three-day sell-off

May 18, 2022 06:09
13
Chinese data spooks investors, sentiment turns sour
Fundamental analysis

Stock markets turn directionless after a bounce

May 18, 2022 05:08
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies enjoy a bounce amid a weaker USD

May 17, 2022 06:51
15
Sentiment turns sour, dollar steadies ahead of the weekend
Fundamental analysis

USD gives up gains as risk sentiment improves further

May 17, 2022 04:52
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar off tops but resilient

May 16, 2022 05:44
18
Stocks mostly lower despite upbeat economic data
Fundamental analysis

Markets failed to extend the bounce, back under pressure

May 16, 2022 04:38
16

Leave Your Opinion Cancel reply

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

Recommended

Pound corrects higher due to dollar weakness

Dollar sees broad-based pickup in demand

June 2, 2021 07:52
17

Federal Reserve Board amends implementation date of modifications to Reserve Bank payment services and corresponding changes to the Policy on Payment System Risk

September 25, 2020 11:01
10
The coronavirus outbreak is already taking a toll on the German economy

Markets show modest signs of stabilization, dollar gains

March 19, 2020 06:27
19

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