• Latest
  • Trending
  • All
Pound corrects higher due to dollar weakness

Dollar mixed amid conflicting signals, yen on the defensive

October 7, 2020 10:09
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
Sunday, January 29, 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 » Dollar mixed amid conflicting signals, yen on the defensive

Dollar mixed amid conflicting signals, yen on the defensive

by Joseph Deen
October 7, 2020 10:09
in Technical analysis
0
Pound corrects higher due to dollar weakness

USDJPY resumed the ascent after a short-lived pause seen on Tuesday

EURUSD

EURUSD turned green on Wednesday after a retreat from the 1.18 handle seen yesterday. The pair struggles to stage a more sustainable ascent after a rejection from the important local resistance that triggered a decline in mid-September. So, the pair needs to make a decisive break above this level to see a more robust and sustainable ascent. Otherwise, downside risks could intensify and send the prices back below 1.17. As of writing, EURUSD was changing hands marginally above the 20-DMA, with the daily RSI pointing just slightly higher, suggesting the euro will likely lack the current bullish momentum to regain recent losses. 

GBPUSD

GBPUSD has been changing hands in a tight intraday range on Wednesday, struggling to regain upside momentum after yesterday’s rejection from mid-September highs around the 1.30 psychological level. It looks like the pound may need the additional bullish driver to make a decisive break above this important hurdle. On the downside, the pair is clinging to the 20-DMA, a break below which will open the way toward the 100- and 200-DMAs that arrive at 1.2785 and 1.2710, respectively. As long as the cable stays above these moving averages, its short-term dynamics is considered neutral. If the selling pressure eases any time soon, the initial upside barrier should be expected at 1.2930. 

USDJPY

USDJPY resumed the ascent after a short-lived pause seen on Tuesday. The pair bounced from the 20-DMA and jumped to mid-September highs above the 106.00 handle in recent trading. The dollar has trimmed intraday gains since then and needs to stage a daily close above this level to confirm the latest breakout. Otherwise, profit-taking could bring the pair back under the key moving average. On the four-hour timeframes, the greenback has settled above the three moving averages but the RSI is flat marginally below the overbought territory, suggesting further gains could be limited. On the downside, the immediate support arrives at 105.70, followed by the now descending 20-DMA arriving at 105.40.  

XAUUSD

Gold prices suffered decent losses yesterday and extended the decline to late-September lows around $1,872 today in Asia. However, the precious metal managed to stage a bounce and reentered the positive territory. During the local recovery, the bullion stayed shy of the $1,900 handle and has retreated partially since then. As of writing, the yellow metal was changing hands around $1,884. As long as the prices stay below the $1,900 barrier, downside risks will continue to persist. In a wider picture, gold continues to derive support from the ascending 20-DMA but could challenge this moving average if the pressure persists in the days to come. In this scenario, the precious metal could see a deeper retreat from all-time highs registered in early-August above the $2,000 figure. 

NZDUSD

The Kiwi struggles for a recovery impetus after a plunge on Tuesday. The pair dipped to a local low of 0.6574 and bounced but failed to challenge the 0.66 immediate resistance in recent trading. After the recent retreat from the 0.6660 area, the New Zealand dollar remains on the defensive while the current recovery attempts are looking too modest to bet on more robust gains in the short term, with bearish risks persisting as long as the prices stay below the 20-DMA around 0.6635. The daily RSI turned flat in the neutral territory, suggesting NZDUSD could spend some time in consolidation before deciding on a further direction. Once above 0.66, the prices could retest the mentioned moving average if the dollar comes under widespread selling pressure.  

Tags: EURUSDGBPUSDNZDUSDUSDJPYXAUUSD
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

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
Investors spooked by strong US data
Fundamental analysis

Investors spooked by strong US data

December 23, 2022 11:55
11
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

Leave Your Opinion Cancel reply

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

Recommended

Federal Reserve Board issues enforcement action with Benchmark Community Bank and announces the termination of enforcement action with Peoples Bank

June 30, 2020 02:03
10
Dollar lacks upside momentum due to lower Treasury yields

High-yielding currencies refresh lows as USD demand persists

March 7, 2022 10:01
11
Fed Keeps Interest Rates Steady

Fed Keeps Interest Rates Steady and Projects Little Movement Ahead

December 11, 2019 12:15
13

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