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

Dollar pares some gains to end the week

February 5, 2021 06:09
Dollar lacks upside momentum due to lower Treasury yields

USD bulls remain on the offensive across the market

August 19, 2022 09:53
Stocks erase gains as cautious tone persists in the markets

Markets mixed amid persisting global uncertainty

August 19, 2022 09:43
Dollar lacks upside momentum due to lower Treasury yields

Buying pressure keeps building surrounding the US dollar

August 18, 2022 08:47
Risk demand prevails after FOMC minutes

Stocks trend lower after FOMC minutes

August 18, 2022 08:37
Dollar lacks upside momentum due to lower Treasury yields

US dollar maintains bullish trajectory

August 17, 2022 07:08
Global stocks retreat after a plunge on Wall Street

Global stocks mixed-to-higher, investors stay cautious

August 17, 2022 06:56
Dollar lacks upside momentum due to lower Treasury yields

USD demand persists across the market

August 16, 2022 06:49
Euro rises despite а stronger dollar

Risk mood turns more measured, euro threatens parity again

August 16, 2022 06:42
Dollar lacks upside momentum due to lower Treasury yields

Dollar buoyed at the start of the week

August 15, 2022 05:39
Investors stay nervous as tensions escalate

Investors start the week on a cautious note

August 15, 2022 05:25
Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off selling pressure

August 12, 2022 09:58
Equity markets mixed ahead of the weekend

Markets struggle for direction ahead of the weekend

August 12, 2022 09:42
  • Terms & Сonditions
  • Contact
Saturday, August 20, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Stocks erase gains as cautious tone persists in the markets

    Markets mixed amid persisting global uncertainty

    Risk demand prevails after FOMC minutes

    Stocks trend lower after FOMC minutes

    Global stocks retreat after a plunge on Wall Street

    Global stocks mixed-to-higher, investors stay cautious

    Euro rises despite а stronger dollar

    Risk mood turns more measured, euro threatens parity again

    Investors stay nervous as tensions escalate

    Investors start the week on a cautious note

    Equity markets mixed ahead of the weekend

    Markets struggle for direction ahead of the weekend

    Stocks climb marginally, pressuring the greenback

    Investors welcome cooling inflation, dollar sags

    Yellen failed to spook global markets

    Risk-off tone dominates global markets

    Stocks making recovery attempts, markets remain unstable

    Stock markets little changed amid cautious trades

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Stocks erase gains as cautious tone persists in the markets

    Markets mixed amid persisting global uncertainty

    Risk demand prevails after FOMC minutes

    Stocks trend lower after FOMC minutes

    Global stocks retreat after a plunge on Wall Street

    Global stocks mixed-to-higher, investors stay cautious

    Euro rises despite а stronger dollar

    Risk mood turns more measured, euro threatens parity again

    Investors stay nervous as tensions escalate

    Investors start the week on a cautious note

    Equity markets mixed ahead of the weekend

    Markets struggle for direction ahead of the weekend

    Stocks climb marginally, pressuring the greenback

    Investors welcome cooling inflation, dollar sags

    Yellen failed to spook global markets

    Risk-off tone dominates global markets

    Stocks making recovery attempts, markets remain unstable

    Stock markets little changed amid cautious trades

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

Home » Dollar pares some gains to end the week

Dollar pares some gains to end the week

by Joseph Deen
February 5, 2021 06:09
in Technical analysis
0
Pound corrects higher due to dollar weakness

As long as the euro stays below 20-DMA, downside risks continue to persist

EURUSD

EURUSD dipped to fresh two-month lows around 1.1950 earlier in the day. The pair staged a bounce from the 100-DMA early in Europe, to turn positive on the day. Despite a local recovery, the common currency stays below the 1.2000 key handle and was last seen trading around 1.1975, just 0.13% higher on the day. On the upside, significant resistance is represented by the descending 20-DMA that arrives just above the 1.2100 figure today. As long as the prices stay below this moving average, downside risks continue to persist. On the positive the daily RSI has turned marginally higher, suggesting downside risks could abate in the short term.

GBPUSD

GBPUSD briefly dipped to 2.5-week lows around 1.3565 on Thursday before rebounding. The pair is trading in the green today but struggles to see a more robust bullish bias while staying not far from long-term lows registered above 1.3750 last week. It looks like the cable will continue its consolidation in a tight range before another bull run takes place as the downside potential remains limited as long as the pair oscillates around the 20-DMA, today at 1.3660. On the downside, the intermediate support arrives at 1.3600, followed by the mentioned low. In the immediate term, the prices need to regain the 1.3700 figure in order to see fresh highs in the coming days.

USDJPY

USDJPY rose to a three-month high of 105.63 earlier in the day. However, the pair failed to confirm a break above the 200-DMA and retreated as dollar demand started to wane across the board ahead of the weekend. As a result, the prices have corrected lower to the 105.30 area before bouncing back in the green. As of writing, USDJPY was changing hands just below 105.60, up 0.04% on the day. The fact that the dollar refrained from a deeper retreat and managed to regain bullish bias suggests the downside potential is limited at this stage while bullish momentum persists. If the greenback receives another boost by the end of the day. The mentioned moving average could turn into support on a daily and weekly closing basis.

XAUUSD

Gold prices turned into a recovery mode following yesterday’s plunge that took prices to early-December lows around $1,785. The precious metal rebounded above $1,800 while the $1,810 region caps further bullish attempts during the European trading. If the downside pressure surrounding the dollar intensifies in the coming days, the bullion could retarget the 20-daily moving average that arrives at $1,843 today. On the four-hour charts, the technical picture has improved somewhat but the XAUUSD pair is yet to regain the descending 20-SMA that arrives at $1,822. In a wider picture, the 100-DMA (today at $1,873) represents the key hurdle for gold bulls.

NZDUSD

NZDUSD struggles to regain upside momentum following yesterday’s plunge below the 20-DMA that now acts as the immediate resistance that capped bullish attempts earlier in the day on Friday. The pair turned flat in recent trading, struggling for direction as the prices are now stuck between the 20- and 100-SMAs on the hourly charts. On the downside, the immediate support arrives at 0.7135, followed by the 0.7100 figure last seen more than one week ago. However, the daily RSI has turned flat in the neutral territory, suggesting the downside potential is limited at this stage. On the other hand, the 20-DMA will likely cap recovery attempts in the near term.

Tags: EURUSDGBPUSDGoldNZDUSDUSDJPYXAUUSD
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

USD bulls remain on the offensive across the market

August 19, 2022 09:53
12
Stocks erase gains as cautious tone persists in the markets
Fundamental analysis

Markets mixed amid persisting global uncertainty

August 19, 2022 09:43
14
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Buying pressure keeps building surrounding the US dollar

August 18, 2022 08:47
22
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

US dollar maintains bullish trajectory

August 17, 2022 07:08
24
Global stocks retreat after a plunge on Wall Street
Fundamental analysis

Global stocks mixed-to-higher, investors stay cautious

August 17, 2022 06:56
27
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD demand persists across the market

August 16, 2022 06:49
17

Leave Your Opinion Cancel reply

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

Recommended

Dollar lacks upside momentum due to lower Treasury yields

Greenback looks steady despite a local retreat

January 19, 2022 03:03
10

University of Alberta crowned National Champion of The Governor’s Challenge

February 16, 2021 14:45
10
Euro struggles below three-month highs, yen demand persists

Euro resumed the ascent, EURGBP at fresh highs

May 21, 2020 09:38
19

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