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

Dollar keeps firmer as risk appetite wanes

December 7, 2020 07:53
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 keeps firmer as risk appetite wanes

Dollar keeps firmer as risk appetite wanes

by Joseph Deen
December 7, 2020 07:53
in Technical analysis
0
Pound corrects higher due to dollar weakness

Despite the lack of buying pressure at this stage, downside risks surrounding the euro look limited as well

EURUSD

EURUSD bumped into resistance at fresh long-term tops marginally below 1.2180 late last week. as a result, a pattern similar to a double top was created on the daily charts, suggesting the euro could struggle to overcome this barrier on the way towards 1.2200. Following a rejection from highs, the pair has been in a corrective mode, extending the retreat on Monday. The prices dipped to intraday lows in the 1.2080 area earlier in the day but managed to trim losses and has settled marginally above the 1.2100 figure since then. Despite the lack of buying pressure at this stage, downside risks look limited as well. In the short term, the common currency needs to hold above the 1.2100 figure in order to avoid a deeper correction.

GBPUSD

GBPUSD peaked at 1.3540 on Friday but was strongly rejected from fresh highs and finished unchanged. The cable extended the decline to start the week, having slipped to the 1.3225 area earlier in the European session. The pair has trimmed losses partially since then but still stayed below the 20-DMA, today at 1.3300. As a result, the hourly RSI slipped into the oversold territory, struggling to reenter the neutral zone. The immediate resistance is now represented by the mentioned moving average, followed by the 1.3365 area and the 1.3400 figure. On the downside, a break below 1.3220 could pave the way towards the 1.3200 figure.

USDJPY

USDJPY extended the recovery from local lows, having settled marginally above 104.00 on Monday. However, the dollar has once again encountered resistance in the form of the 20-DMA, today at 104.35. As long as the pair stays below this local barrier, downside risks will likely continue to persist. Once above it, the greenback could challenge the 104.65 area, followed by the 105.00 figure. On the four-hour timeframes, USDJPY was flirting with the 100-SMA at the time of writing while showing some signs of a downside correction. Of note, the RSI in the same timeframes has reversed slightly lower in recent trading, suggesting the upside potential could stay limited in the short term.

XAUUSD

XAUUSD bumped into resistance in the form of the 20-DMA late last week, struggling to regain the bullish bias since then. The bullion retreated to the $1,822 area earlier in the day and has recovered partially since then. Still, the precious metal remains on the defensive on the daily charts, suggesting the downside pressure could intensify if the mentioned moving average doesn’t give up any time soon. On the downside, significant support is represented by the 200-DMA that lies marginally above the $1,800 handle. The yellow metal needs to hold above this figure in order to avoid a deeper correction towards the recent lows around $1,765.

AUDUSD

The Aussie has reversed from more-than two-year highs last week and has been correcting lower since then. The pair slipped to 0.7370 earlier during the European hours and has trimmed intraday losses since then. In the short term, the prices need to regain the 0.7400 handle in order to reverse local losses. In a wider picture, the pair remains within a broader bullish trend that stays intact as long as the Australian currency holds above the 100-DMA, today at 0.7210. On the four-hour charts, the pair has got below the 20-DMA, adding to a short-term bearish picture as well as the bearish slope in the daily RSI.

Tags: AUDUSDEURUSDGBPUSDUSDJPYXAUUSD
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

Bank of Canada maintains overnight rate target at 1 ¾ percent

October 30, 2019 17:22
11

Fed’s Jim Bullard sees first interest rate hike coming as soon as 2022

June 18, 2021 14:44
10

Stocks are back in sell-off mode. Former Fed Chairman Alan Greenspan and two others on what could be next

September 10, 2020 14:32
11

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