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

Euro gains marginally, dollar steady

April 22, 2021 07:11
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
Monday, January 30, 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 gains marginally, dollar steady

Euro gains marginally, dollar steady

by Joseph Deen
April 22, 2021 07:11
in Technical analysis
0
Pound corrects higher due to dollar weakness

EURGBP could challenge this week’s highs around 0.8670 in the short term if the outcome of the ECB meeting doesn’t disappoint euro bulls

EURUSD

EURUSD turned marginally higher on the day in recent trading, flirting with the 100-DMA that continues to cap gains in the common currency. The pair needs to overcome this barrier in the 1.2050 area in order to retest this week’s highs around 1.2080. If the moving average withstands the current pressure, a pullback towards the 1.2000 figure could be expected. On the hourly charts, the RSI is pointing north while the prices have exceeded the 20-SMA in recent trading, adding to a more upbeat short-term technical picture. On the weekly timeframes, the common currency is challenging the 20-SMA that could cap further bullish attempts.

GBPUSD

GBPUSD was rejected from the 1.4000 figure earlier in the week and has been trending lower since then. The pair slipped to the 1.3885 region that represents the immediate support, a break below which would pave the way towards the 20-DMA (today at 1.3812) that turned into support last week. On the upside, the 1.3950 area needs to be broken in the short term. Otherwise, the cable could see more steep losses in the coming days. If so, GBPUSD may challenge the 1.3800 figure to retarget the 100-DMA at 1.3725. In the immediate term, the path of least resistance is to the downside despite the greenback struggles for direction.

USDJPY

USDJPY has been losing ground since the start of the month. On Thursday, the dollar extended losses to the 107.80 area before bouncing to the flat-line in recent trading. The pair was last seen clinging to the 108.00 figure, a daily close below which would pave the way towards fresh early-March lows. Should the greenback stage a reversal, the 108.30 area would represent the immediate target for bulls. In a wider picture, bearish risks persist as long as the prices stay below the 20-DMA that arrives at 109.35 today. The key upside barrier arrives at the 111.00 figure that triggered the current retreat.

NZDUSD

The Kiwi failed to retain bullish impetus and turned lower on Thursday. As a result, the pair slipped back below the 0.7200 figure before deriving support from the 0.7170 area that now represents the immediate support now. On the upside, a decisive break above the 0.7220 region would mark some improvement in the short-term technical picture. However, it looks like the New Zealand dollar will stay under the selling pressure in the immediate term though losses would be limited. In a wider picture, NZDUSD has exceeded the 20-week SMA, which is a bullish sign, but the pair is yet to stage a weekly close above this moving average to confirm the breakout.

EURGBP

The cross has been trending higher for the third day in a row on Thursday. The pair bounced from the 20-DMA earlier in the week and has been rising since then. Today, the euro extended gains to the 0.8665 area and could challenge this week’s highs around 0.8670 in the short term if the outcome of the ECB meeting doesn’t disappoint euro bulls. On the downside, the immediate support arrives at 0.8630, followed by the 20-DMA that arrives at 0.8618 today. On the four-hour charts, the technical picture has improved as the prices have settled above the key moving averages and the RSI is pointing north in the neutral territory.

Tags: EURGBPEURUSDGBPUSDNZDUSDUSDJPY
Share4Tweet2
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 grinds a tad higher after jobs report

October 2, 2020 09:52
14
Pound corrects higher due to dollar weakness

Dollar retreats, but remains in the high zone

November 18, 2021 02:50
13
Pound corrects higher due to dollar weakness

Dollar reversed south after a short-lived recovery

October 14, 2020 09:21
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