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

Dollar extends the recovery but the bullish momentum looks limited

January 8, 2021 02:46
Dollar lacks upside momentum due to lower Treasury yields

Greenback continues to outperform its rivals

June 29, 2022 05:31
Stocks retain bullish bias, capping dollar’s recovery

Risk demand wanes across the markets, dollar edges higher

June 29, 2022 04:49
Dollar lacks upside momentum due to lower Treasury yields

Dollar stays downbeat, but bearish potential remains limited

June 28, 2022 06:15
Geopolitics pushes global markets south, dollar bulls back in the game

Stocks retain bullish bias, capping dollar’s recovery

June 28, 2022 04:38
Dollar lacks upside momentum due to lower Treasury yields

USD slightly on the defensive to start the week

June 27, 2022 06:04
Markets struggle for direction, dollar steady after gains

Stock market rally continues, pressuring the dollar

June 27, 2022 04:50
Dollar lacks upside momentum due to lower Treasury yields

Dollar resumes the downside, looks choppy

June 24, 2022 06:22
Risk sentiment looks mixed, dollar retreats marginally

Equities in positive territory ahead of the weekend, dollar lags

June 24, 2022 05:13
Stocks making recovery attempts, markets remain unstable

Markets indecisive as recession fears persist

June 23, 2022 09:11
Dollar lacks upside momentum due to lower Treasury yields

USD regains bullish bias, volatility ebbs somehow

June 23, 2022 08:44
Dollar lacks upside momentum due to lower Treasury yields

Greenback bounces due to risk aversion

June 22, 2022 07:50
Global stocks in recovery mode but still cautious

Global stocks back under pressure after short-lived relief rally

June 22, 2022 07:44
  • Terms & Сonditions
  • Contact
Wednesday, June 29, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Stocks retain bullish bias, capping dollar’s recovery

    Risk demand wanes across the markets, dollar edges higher

    Geopolitics pushes global markets south, dollar bulls back in the game

    Stocks retain bullish bias, capping dollar’s recovery

    Markets struggle for direction, dollar steady after gains

    Stock market rally continues, pressuring the dollar

    Risk sentiment looks mixed, dollar retreats marginally

    Equities in positive territory ahead of the weekend, dollar lags

    Stocks making recovery attempts, markets remain unstable

    Markets indecisive as recession fears persist

    Global stocks in recovery mode but still cautious

    Global stocks back under pressure after short-lived relief rally

    Equity markets mixed, focus shifts to Blinken-Lavrov meeting

    Markets enjoy recovery but risks persist

    Global stocks struggle after a bearish week

    Markets relatively steady to start the week

    Risk sentiment keeps deteriorating, dollar climbs

    Markets get steadier ahead of the weekend, dollar recovers

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Stocks retain bullish bias, capping dollar’s recovery

    Risk demand wanes across the markets, dollar edges higher

    Geopolitics pushes global markets south, dollar bulls back in the game

    Stocks retain bullish bias, capping dollar’s recovery

    Markets struggle for direction, dollar steady after gains

    Stock market rally continues, pressuring the dollar

    Risk sentiment looks mixed, dollar retreats marginally

    Equities in positive territory ahead of the weekend, dollar lags

    Stocks making recovery attempts, markets remain unstable

    Markets indecisive as recession fears persist

    Global stocks in recovery mode but still cautious

    Global stocks back under pressure after short-lived relief rally

    Equity markets mixed, focus shifts to Blinken-Lavrov meeting

    Markets enjoy recovery but risks persist

    Global stocks struggle after a bearish week

    Markets relatively steady to start the week

    Risk sentiment keeps deteriorating, dollar climbs

    Markets get steadier ahead of the weekend, dollar recovers

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

Home » Dollar extends the recovery but the bullish momentum looks limited

Dollar extends the recovery but the bullish momentum looks limited

by Joseph Deen
January 8, 2021 02:46
in Technical analysis
0
Pound corrects higher due to dollar weakness


The common currency remains within a broader uptrend despite the current bearish correction

EURUSD

EURUSD has been in a corrective mode since yesterday, retaining a bearish bias on Friday. The pair dipped to the 20-DMA that has been capping further losses so far. The daily RSI has slipped from the 70 handle and pointing lower in the neutral territory, suggesting there is room for a further retreat in the short term. However, the common currency remains within a broader uptrend despite the current bearish correction that could be limited if the mentioned moving average, which has been acting as support for two months already, withstands the pressure in the short term. On the hourly charts, there are some recovery signs now, but the euro still stays below the key moving averages.

GBPUSD

GBPUSD has regained the upside bias following a two-day correction. Despite the pair has retreated from long-term highs, the prices stay above the 20-DMA that arrives marginally below the 1.3500 handle. it is very important for the cable to hold above this moving average as я correction below it would pave the way for a deeper retreat. On the positive side, the directionless daily RSI shows that downside risks are limited in the short term. In the four-hour timeframes, the pound was flirting with the 20-SMA at the time of writing, suggesting the prices could spend some time in consolidation before deciding on a further direction. 

USDJPY

USDJPY climbed to mid-December highs marginally above the 104.00 figure earlier in the day. However, the dollar failed to preserve gains and retreated in recent trading, having settled below this key figure. On the positive side, the pair has recovered above the significant 20-DMA on Thursday in a strong rally from March lows. Now, the dollar needs to confirm the latest breakout on a daily closing basis in order to extend the bounce and reclaim the 104.00 level as support. On the hourly charts, however, the prices are slipping back below the 20-SMA, suggesting the greenback could lose the upside momentum in the short term ahead of the weekend.

XAUUSD

XAUUSD has been sliding from two-month highs for the third day in a row on Friday. The bullion has slipped below the $1,9000 handle as well as the 100-DMA (today at $1,893). Furthermore, the precious metal slipped to the 20-DMA earlier in the session, suggesting a bearish correction could continue if this moving average fails to act as strong resistance in the short term. the daily RSI has retreated from the 70 handle and was pointing south, which implies further losses at this stage. On the upside, the immediate resistance is now represented by the mentioned $1,900 figure, followed by the $1,920 region.

USDCAD

USDCAD has settled in a tight range on Friday, lacking directional impetus despite a recovery in dollar demand. The pair sees a mild bearish bias in the intraday charts, being capped by the descending 20-DMA since last week. This moving average (today at 1.2760) represents the key short-term resistance. As long as the prices stay below this level, downside risks persist. On the four-hour charts, USDCAD has settled below the three key moving averages, adding to the negative short-term technical picture. In the longer-term, the dollar needs to regain the 1.2900 figure in order to shrug off the current weakness that could push the prices to fresh long-term lows below 1.2700.

Tags: EURUSDGBPUSDUSDCADUSDJPYXAUUSD
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

Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback continues to outperform its rivals

June 29, 2022 05:31
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar stays downbeat, but bearish potential remains limited

June 28, 2022 06:15
15
Geopolitics pushes global markets south, dollar bulls back in the game
Fundamental analysis

Stocks retain bullish bias, capping dollar’s recovery

June 28, 2022 04:38
15
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD slightly on the defensive to start the week

June 27, 2022 06:04
15
Markets struggle for direction, dollar steady after gains
Fundamental analysis

Stock market rally continues, pressuring the dollar

June 27, 2022 04:50
15
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar resumes the downside, looks choppy

June 24, 2022 06:22
20

Leave Your Opinion Cancel reply

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

Recommended

Watch live — Fed Chair Powell’s second day of testimony on Capitol Hill

September 23, 2020 11:15
10
Dollar lacks upside momentum due to lower Treasury yields

Dollar set to extend the rally after a pause

June 14, 2022 06:15
19
Dollar lacks upside momentum due to lower Treasury yields

USD lacks buying pressure as Fed meeting looms

May 3, 2022 11:31
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
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