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

Dollar rises as risk-off tone reemerges

November 19, 2020 07:55
Investors stay depressed after heavy losses

Investors stay depressed after heavy losses

September 25, 2023 07:00
Equity markets mostly depressed

Equity markets mostly depressed

September 22, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar receives fresh impetus from Fed

September 21, 2023 07:01
Dollar lacks upside momentum due to lower Treasury yields

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
Stock markets directionless as Fed meeting looms

Stock markets directionless as Fed meeting looms

September 19, 2023 07:03
Dollar lacks upside momentum due to lower Treasury yields

Dollar under some pressure after the weekend

September 18, 2023 07:00
Economic data and ECB boost stock market rally

Economic data and ECB boost stock market rally

September 15, 2023 07:57
Dollar lacks upside momentum due to lower Treasury yields

USD hesitates below the 105.00 barrier

September 14, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

USD steady and resilient in anticipation of US CPI

September 13, 2023 07:15
Stock markets struggle for direction ahead of major events

Stock markets struggle for direction ahead of major events

September 12, 2023 07:19
Dollar lacks upside momentum due to lower Treasury yields

Dollar rally pauses to start the week

September 11, 2023 06:46
Risk sentiment improves somewhat after a streak of losses

Risk sentiment improves somewhat after a streak of losses

September 8, 2023 07:08
  • Terms & Сonditions
  • Contact
Monday, September 25, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investors stay depressed after heavy losses

    Investors stay depressed after heavy losses

    Equity markets mostly depressed

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investors stay depressed after heavy losses

    Investors stay depressed after heavy losses

    Equity markets mostly depressed

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

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

Home » Dollar rises as risk-off tone reemerges

Dollar rises as risk-off tone reemerges

by Joseph Deen
November 19, 2020 07:55
in Technical analysis
0
Pound corrects higher due to dollar weakness

Gold prices extend the retreat from the 20-DMA that acted as local resistance earlier this week

EURUSD

As risk sentiment has deteriorated on Thursday, dollar demand picked up, sending the US currency higher versus most rivals. EURUSD lacked the upside momentum to challenge the 1.1900 local barrier and was rejected as a result. Today, the common currency extended losses to 1.1816 and has steadied slightly off intraday lows afterwards. If the buying pressure surrounding the greenback continues to build, the 1.1800 figure could turn into resistance in the short-term. On the positive side, as long as the pair stays above the 20-DMA, bearish risks are limited. On the upside, the immediate resistance now arrives at 1.1850, followed by 1.1890.

GBPUSD

GBPUSD turned marginally lower on Thursday after a four-day winning streak. The pair came across resistance marginally above the 1.3300 handle yesterday and has retreated from the early-September highs since then. Still, the downside potential looks limited at this stage, with the cable deriving support from the 1.3200 figure so far. If the pressure intensifies any time soon, a break below this level would pave the way towards the 20-DMA, today at 1.31. On the four-hour charts, the is flirting with the 20-SMA, with short-term dynamics looking neutral despite a slight bullish bias in the RSI. In a wider picture, the pound remains within a broader upside trend while holding above the key simple moving averages on the weekly timeframes.

USDJPY

USDJPY reversed north following five sessions of steep losses. As a result, a pattern similar to a double bottom was created on the daily charts, which implies further downside potential could be limited. The greenback derived support around 103.65-103.70 and climbed back above the 104.00 figure in recent trading. Still, as the recovery momentum looks unsustainable at this stage, the pair is yet to confirm the reversal on a daily closing basis. Once the 104.00 level turns into support, USDJPY could regain the 20-DMA, today at 104.50. On the downside, the prices may challenge the mentioned double bottom if the selling pressure surrounding the US currency reemerges. However, the path of least resistance is to the upside in the near term. 

XAUUSD

Gold prices extend the retreat from the 20-DMA that acted as local resistance earlier this week. Since then, the precious metal remains on the defensive, struggling to regain the bullish bias. As such, the bullion slipped to 1.5-week lows around $1,855 earlier in the day and has trimmed losses to the $1,861 region in recent trading. Now, as the downside pressure surrounding the yellow metal mounts, the $1,850 support zone comes back into market focus. As long as the prices stay above this significant level, bearish risks look limited while a break below it would pave the way to deeper losses. In this scenario, the next support should be expected at $1,840 last seen in July.

AUDUSD

AUDUSD struggles since a rejection from local highs in the 1.3340 area earlier last week. On Thursday, the pair slipped from the 0.7300 figure and extended intraday losses to 0.7255. As a result, the key moving averages on the hourly charts turned into resistance, suggesting the downside pressure could further mount in the short term. If so, the pair needs to hold above the 0.7220 significant intermediate support, a break below which would pave the way towards the 20-DMA that arrives just below the 0.7200 level. On the upside, the Aussie needs to make a decisive break above the 0.7300 figure in order to shrug off the current bearish pressure.

Tags: AUDUSDEURUSDGBPUSDGoldUSDJPYXAUUSD
Share3Tweet2
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 receives fresh impetus from Fed

September 21, 2023 07:01
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
14
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar under some pressure after the weekend

September 18, 2023 07:00
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD hesitates below the 105.00 barrier

September 14, 2023 07:00
17
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD steady and resilient in anticipation of US CPI

September 13, 2023 07:15
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar rally pauses to start the week

September 11, 2023 06:46
14

Leave Your Opinion Cancel reply

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

Recommended

Stock markets finish the week on a downbeat note

Stocks surge amid month-end flows

April 29, 2022 13:08
13

Bank of Canada to become the administrator of key interest rate benchmark

July 16, 2019 17:24
12
Investors stay nervous as tensions escalate

Markets look for rebound after a major sell off

May 10, 2022 10:11
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
124
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