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

Euro surges but lacks momentum as dollar steadies

April 2, 2021 06:28
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
Tuesday, February 7, 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 » Euro surges but lacks momentum as dollar steadies

Euro surges but lacks momentum as dollar steadies

by Joseph Deen
April 2, 2021 06:28
in Technical analysis
0
Pound corrects higher due to dollar weakness

The European currency faces downside risks as long as the prices stay below the key 20-DMA

EURUSD

The euro preserves a slightly bullish tone as the safe-haven dollar demand has been abating since Wednesday. Against this backdrop, EURUSD managed to stage a bounce from fresh four-month lows around 1.1700, up to the 1.1785 region that caps further gains ahead of the weekend. The daily RSI has rebounded somehow from the 30 figure but looks flat now, suggesting the pair will likely struggle for direction at this stage. Despite the recent rebound, a decisive break above 1.1800 looks unlikely so far, as the greenback is relatively steady in this pre-holiday trading. In a wider picture, the European currency faces downside risks as long as the prices stay below the key 20-DMA that arrives at 1.1857 today.

GBPUSD

GBPUSD retains upside bias on Friday and was last seen flirting with the 20-DMA in the 1.3840 area. A decisive break above this moving average would pave the way towards the 1.3920 figure, followed by the 1.4000 psychological mark last seen on March 18. However, as the bullish momentum has slowed in recent trading, it looks like the cable could struggle around the mentioned moving average in the near term. Furthermore, a downside correction from the current levels could be expected as well. On the four-hour charts, the pound was last seen trading just at the 100-SMA while the RSI looked directionless, which implies that the short-term technical picture could stay relatively neutral for the time being.

USDJPY

USDJPY retreated from fresh one-year peaks around 111.00 earlier in the week and has been retaining a bearish bias since then. However, the downside momentum looks limited, with the pair deriving support from the 110.35 area on Friday. If this zone withstands the pressure, the greenback would resume the ascent and could overcome the mentioned barrier eventually. If so, the 111.30 region will come into market focus for the first time since March 2020. On the hourly timeframes, the prices are now stuck between the 20- and 100-SMAs, suggesting the pair could stay in a tight range ahead of the weekend in thin pre-holiday trading.

EURJPY

The cross peaked at two-week highs around 130.30 earlier in the day before retreating into negative territory in recent trading. It looks like the pair is losing upside momentum following a three-day rally that took the prices above the 20-DMA. Still, upside risks prevail as long as the euro stays above this moving average, today at 129.52. In the immediate term, EURJPY needs to hold above 130.00 on a daily closing basis in order to preserve recent gains and resume the ascent eventually. Otherwise, the 129.80 area, followed by the mentioned moving average will come back into market focus. The pair was last seen trading around 130.13, down 0.07% for the day.

NZDUSD

The Kiwi has been rising for the third session in a row on Friday as dollar demand keeps abating these days. The pair extended gains to 1.5-week highs around 0.7040 earlier today before retreating. Still, NZDUSD stayed positive on the daily charts and was last seen changing hands at 0.7024, up 0.16% for the day. A daily and weekly close above the 0.7000 figure would be a confirmation of the latest breakout. In this scenario, the descending 20-DMA (today at 0.7094) will come back into market focus for the first time since mid-March. On the downside, this week’s lows in the 0.6944 area will likely remain intact in the short term.

Tags: EURJPYEURUSDGBPUSDNZDUSDUSDJPY
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

Global stocks in recovery mode but still cautious

Stock markets see a sea of red, worries persist

December 20, 2021 02:54
10
Tech analysis

The yen gains across the board as markets driven by bearish fundamentals

February 25, 2020 06:47
22
Many countries continue to ease lockdown measures and gradually reopen their economies

Stocks rally after Trump’s announcement

June 1, 2020 13:13
17

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