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

Dollar mixed but relatively steady after a rally

May 5, 2021 03:33
Dollar lacks upside momentum due to lower Treasury yields

Dollar regains ground after a three-day sell-off

May 18, 2022 06:09
Chinese data spooks investors, sentiment turns sour

Stock markets turn directionless after a bounce

May 18, 2022 05:08
Dollar lacks upside momentum due to lower Treasury yields

Currencies enjoy a bounce amid a weaker USD

May 17, 2022 06:51
Sentiment turns sour, dollar steadies ahead of the weekend

USD gives up gains as risk sentiment improves further

May 17, 2022 04:52
Dollar lacks upside momentum due to lower Treasury yields

Dollar off tops but resilient

May 16, 2022 05:44
Stocks mostly lower despite upbeat economic data

Markets failed to extend the bounce, back under pressure

May 16, 2022 04:38
Dollar lacks upside momentum due to lower Treasury yields

Dollar refrains from a deeper retreat

May 13, 2022 06:04
Dollar lacks upside momentum due to lower Treasury yields

The greenback seems unstoppable

May 12, 2022 06:34
Risk sentiment looks mixed, dollar retreats marginally

Dollar at fresh highs while stock markets keep bleeding

May 12, 2022 06:21
Dollar lacks upside momentum due to lower Treasury yields

Dollar bulls take a pause, US data eyed

May 11, 2022 07:22
Stocks continue to give up gains ahead of US jobs data

Stocks bounce ahead of US inflation report

May 11, 2022 07:09
Dollar lacks upside momentum due to lower Treasury yields

Dollar holds steady after local correction

May 10, 2022 10:16
  • Terms & Сonditions
  • Contact
Wednesday, May 18, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

    Dollar at fresh highs while stock markets keep bleeding

    Stocks continue to give up gains ahead of US jobs data

    Stocks bounce ahead of US inflation report

    Investors stay nervous as tensions escalate

    Markets look for rebound after a major sell off

    Stock markets rebound on strong corporate earnings

    Recession worries keep markets on the defensive

    A mixed start to the week in the global markets

    Markets a sea of red ahead of US jobs data

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

    Post-Fed rally fades, USD recovers

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

    Dollar at fresh highs while stock markets keep bleeding

    Stocks continue to give up gains ahead of US jobs data

    Stocks bounce ahead of US inflation report

    Investors stay nervous as tensions escalate

    Markets look for rebound after a major sell off

    Stock markets rebound on strong corporate earnings

    Recession worries keep markets on the defensive

    A mixed start to the week in the global markets

    Markets a sea of red ahead of US jobs data

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

    Post-Fed rally fades, USD 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 mixed but relatively steady after a rally

Dollar mixed but relatively steady after a rally

by Joseph Deen
May 5, 2021 03:33
in Technical analysis
0
Pound corrects higher due to dollar weakness

There is a chance that the euro will make fresh recovery attempts during the US trading later today

EURUSD

EURUSD slipped to April 19 lows around 1.1985 before bouncing to the 1.2000 figure where the 20-DMA lies. Еhe euro needs to turn this moving average back into support in order to stage a recovery and avoid deeper losses in the short term. Now, as the common currency turned flat on the day, there is a chance that the pair will make fresh recovery attempts during the US trading later today if the greenback refrains from another rally. On the four-hour charts, the RSI has reversed north, but the prices are yet to regain the key moving averages in order to see more sustained gains. In the immediate term, downside risks have receded somehow but continue to persist.

GBPUSD

The cable bounced from the 20-DMA on Tuesday to trim intraday losses. Today. The pair turned positive, regaining the 1.3900 figure. The pound extended the recovery to the 1.3925 area, nearing this week’s highs around 1.3930. If this figure gives up, GBPUSD would retarget the 1.3975 intermediate resistance last seen on April 29, while the key upside target still arrives at 1.4000. On the downside, the immediate support lies at 1.3875, followed by the 20-DMA at 1.3853. In a wider picture, the cable remains bullish as long as the ascending 20-week moving average acts as support, albeit the upside momentum has waned since February when the pair exceeded the 1.4200 figure amid broad-based dollar weakness.

USDJPY

USDJPY rose on Tuesday but lacked upside momentum to challenge this week’s highs around 109.70 that triggered a bearish correction. Today, the pair came back under some selling pressure while holding above the 109.20 area. As long as the greenback stays above the 109.00 figure, downside risks look limited for the time being. On the upside, USDJPY needs to make a decisive break above the mentioned weekly tops in order to retarget the 110.00 threshold seen one month ago. At this stage, upside risks remain limited, suggesting the dollar could spend some time in a consolidation mode before deciding on a fresh direction.

XAUUSD

Gold prices remain stuck within a tightening trading range between the 20- and 100-DMAs that represent support and resistance, respectively. On Wednesday, the precious metal is trading in a flay manner following yesterday’s rejection from local highs just below the $1,800 figure that continues to act as the key hurdle for gold bulls at this stage. It looks like the bullion will lack the momentum to overcome this barrier any time soon, as dollar demand persists, capping gains in the yellow metal. On the downside, the immediate support is represented by the mentioned 20-day moving average that arrives in the $1,770 area.

NZDUSD

The Kiwi managed to hold above the 0.7100 handle during the sell-off seen on Tuesday witnessed amid a broad-based rally in the greenback. As a result, the pair bounced back above the 20- and 100-DMAs today, extending the recovery to the 0.7180 area in recent trading. Now, the immediate upside target arrives around 0.7210 where this week’s highs lie. The New Zealand dollar needs to confirm recovery above the mentioned moving averages on a daily closing basis in order to see a more robust rebound in the short term. However, the upside potential looks limited at this stage as the greenback remains relatively steady now.

Tags: EURUSDGBPUSDGoldNZDUSDUSDJPYXAUUSD
Share2Tweet2
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 regains ground after a three-day sell-off

May 18, 2022 06:09
13
Chinese data spooks investors, sentiment turns sour
Fundamental analysis

Stock markets turn directionless after a bounce

May 18, 2022 05:08
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies enjoy a bounce amid a weaker USD

May 17, 2022 06:51
15
Sentiment turns sour, dollar steadies ahead of the weekend
Fundamental analysis

USD gives up gains as risk sentiment improves further

May 17, 2022 04:52
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar off tops but resilient

May 16, 2022 05:44
18
Stocks mostly lower despite upbeat economic data
Fundamental analysis

Markets failed to extend the bounce, back under pressure

May 16, 2022 04:38
16

Leave Your Opinion Cancel reply

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

Recommended

Equities turn mixed in muted holiday trading

Equities turn mixed in muted holiday trading

November 26, 2020 03:53
18

Market volatility is back as Covid and Fed uncertainty hit sentiment

June 21, 2021 14:44
10
The UK manufacturers suffered the biggest fall in output and orders for at least three decades

Weak data and Trump’s threats put markets under pressure

May 1, 2020 15:57
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 © 2020 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2020 FWNews