• Latest
  • Trending
  • All
A slow start to the week in FX markets

The yen is the weakest as risk-on sentiment drives markets

August 25, 2020 09:22
Dollar lacks upside momentum due to lower Treasury yields

USD treads water after plunge, markets steady ahead of the weekend

May 20, 2022 06:21
Investor sentiment looks neutral at the start of the week

Modest bounce after sell-off ahead of the weekend

May 20, 2022 04:51
Dollar lacks upside momentum due to lower Treasury yields

Major currencies struggle below key SMAs

May 19, 2022 06:02
Geopolitical tensions ease but risks persist

Global stock rout continues on growth fears

May 19, 2022 05:00
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
  • Terms & Сonditions
  • Contact
Sunday, May 22, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    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

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    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

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

Home » The yen is the weakest as risk-on sentiment drives markets

The yen is the weakest as risk-on sentiment drives markets

by Joseph Deen
August 25, 2020 09:22
in Technical analysis
0
A slow start to the week in FX markets

USDJPY accelerated the accent and turned the 20-DMA back into support


EURUSD
EURUSD has settled just above 1.18 after a rejection from intraday highs around 1.1840 earlier in the day. The pair is trying to regain the upside momentum following the recent correction from fresh two-year highs around 1.1965. However, the euro lacks the bullish potential to get back to the mentioned tips as traders turned more cautious after the rally faded as the prices were approaching the 1.20 psychological level. On the four-hour timeframes, EURUSD trimmed intraday gains as the bulls gave up just ahead of the 50-SMA. As a result, the common currency retreated below the 100-SMA which is a sign of its vulnerability. 

GBPUSD
GBPUSD regained the bullish bias following two days of a downside correction that took the prices to the 1.3050 area that capped the selling pressure. As a result, the cable bounced at this local support and regained the 1.31 level. However, the upside momentum looks indecisive, and the pound is yet to confirm the breakout on a daily closing basis. In the short-term charts, the pair is stuck around the 100- and 200-hourly SMAs that converge in the 1.3130 area. The pair needs to turn this moving average into resistance in order to avoid another profit-taking in the near term. 


USDJPY
USDJPY accelerated the accent and turned the 20-DMA back into support today. In recent trading, the pair climbed to one-week highs around the 106.50 intermediate resistance. A break above this level could open the way to the 107.00 handle where the 100-DMA lies. However, a more aggressive ascent looks unlikely at this stage as the greenback remains fragile and vulnerable to a number of risks. On the downside, the key support arrives at 106.00, with the 20-DMA lying just below this level. On the four-hour timeframes, the technical picture has improved further after the recent break above the 200-SMA.   


XAUUSD
Gold prices have been trading with a bearish bias for the third day in a row on Tuesday. The precious metal is on the defensive these days but the downside potential looks limited at least as long as the prices stay above the $1,900 figure. The immediate resistance now arrives at $1,940, followed by the $1,960 area. A sustainable recovery above the latter could pave the way to the $2,000. However, the metal will need to see the renewed risk aversion in order to stage a reversal. So far, as positive risk sentiment prevails in the global financial markets, the path of least resistance for the bullion is to the downside. In a wider picture, the yellow metal remains within a longer-term bullish trend. 


EURGBP
The cross failed to confirm a break above the 50-DMA yesterday and reversed lower after a two-day recovery. As a result, the euro dipped below the 0.90 psychological level which is a bearish sign, suggesting further losses could lie ahead in the short term. On the other hand, the daily RSI looks nearly neutral, which implies some consolidation around the current levels may take place before the pair decides on the further direction. As of writing, EURGBP was changing hands just below the 0.90 handle. if the selling pressure intensifies, the next support in the form of the 100-DMA will come back into market focus. This moving average that arrives around 0.8935 capped the downside pressure late last week and triggered an impressive bounce. 

Tags: EURGBPEURUSDGBPUSDUSDJPY
Share4Tweet2
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

USD treads water after plunge, markets steady ahead of the weekend

May 20, 2022 06:21
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Major currencies struggle below key SMAs

May 19, 2022 06:02
12
Geopolitical tensions ease but risks persist
Fundamental analysis

Global stock rout continues on growth fears

May 19, 2022 05:00
16
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
15
Chinese data spooks investors, sentiment turns sour
Fundamental analysis

Stock markets turn directionless after a bounce

May 18, 2022 05:08
15
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies enjoy a bounce amid a weaker USD

May 17, 2022 06:51
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 grinds a tad higher after jobs report

October 2, 2020 09:52
14
Dollar lacks upside momentum due to lower Treasury yields

Dollar bulls undeterred

January 28, 2022 23:47
10
Pound corrects higher due to dollar weakness

Greenback remains on the defensive despite the oversold conditions

December 4, 2020 08:06
17

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