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

Major currency pairs little changed on the Thanksgiving holiday

November 26, 2020 09:40
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
Saturday, June 3, 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 » Major currency pairs little changed on the Thanksgiving holiday

Major currency pairs little changed on the Thanksgiving holiday

by Joseph Deen
November 26, 2020 09:40
in Technical analysis
0
Pound corrects higher due to dollar weakness

USDJPY could spend some time in a consolidative mode before deciding on the further direction

EURUSD

EURUSD failed to retain a bullish tone and corrected lower from nearly two-month highs registered earlier in the day around 1.1940. The pair slipped to the 1.1900 figure which remains in market focus. If the euro manages to hold above this mark on a daily closing basis, another bull run could be expected in the short term. However, thin trading conditions due to Thanksgiving Day in the United States may cap fresh upside attempts. In a wider picture, EURUSD remains within the uneven bullish trend, retaining positive momentum as long as the prices stay above the ascending 100-DMA, today at 1.1760. In the immediate term, the European currency needs to hold above the ascending 20-SMA on the four-hour timeframes in order to avoid a deeper retreat.

GBPUSD

GBPUSD turned marginally lower on Thursday following four consecutive bullish sessions. The pair has faced the 1.3400 barrier, struggling to overcome this significant resistance despite upbeat expectations surrounding Brexit talks and the persisting weakness in dollar demand. On the other hand, the selling pressure looks limited as well, with the prices keep holding above 1.3340 today. More significant support arrives around 1.3300. As long as the prices stay above this figure, downside risks are limited. On the hourly charts, the cable is flirting with the 100-SMA that acts as the immediate support. Once below this moving average, GBPUSD could retarget 1.3300.

USDJPY

USDJPY remains capped by the 20-DMA, today at 104.45. A break above this moving average could pave the way to the 104.75 intermediate barrier on the way to 105.00. At this stage, downside risks continue to prevail in the short term as the greenback struggled to retain a bullish tone following a strong rally witnessed at the start of the week. On the other hand, the daily RSI is directionless in the neutral territory, suggesting the pair could spend some time in a consolidative mode before deciding on the further direction. On the downside, a break below 104.00 will bring the market focus back to recent lows in the 103.70-103.65 area.

USDCAD

USDCAD is flat on the day after modest bullish attempts seen yesterday. The pair is clinging to the 1.3000 figure, struggling for a short-term direction. In a wider picture, however, the US currency remains on the defensive while below the descending 20-DMA that arrives marginally below 1.3100. At the same time, the flat daily RSI points to further consolidation in the short term. On the hourly charts, the pair has climbed above the 20-SMA which is a slightly positive technical signal. Still, it’s not enough to bet on fresh recovery attempts any time soon, though the prices are off lows in the 1.2930 area registered earlier this month.

EURGBP

The cross remains below the 200-DMA since the start of the week despite the prevailing bullish bias on the daily charts. As of writing, the pair was changing hands marginally above 0.8900, off yesterday’s highs in the 0.8940 region. A daily close above this figure could signal some improvement in the short-term technical picture for the euro. Still, downside risks continue to persist as long as the prices stay 0.8955 where the 20-and 20-DMAs converge representing the immediate significant resistance. The last time the cross was holding firmly above the 20-daily moving average was in late-September. On the downside, the immediate support arrives at 0.8885.

Tags: EURGBPEURUSDGBPUSDUSDCADUSDJPY
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

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

Pound corrects higher due to dollar weakness

Dollar at fresh 2021 highs as safe-haven demand persists

August 20, 2021 12:02
16
Dollar lacks upside momentum due to lower Treasury yields

Dollar trims losses but stays depressed

August 2, 2022 06:53
19
Pound corrects higher due to dollar weakness

Dollar relatively steady following a sell-off

June 7, 2021 08:10
16

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