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

Dollar struggles after the recent sell-off

May 17, 2021 07:00
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 struggles after the recent sell-off

Dollar struggles after the recent sell-off

by Joseph Deen
May 17, 2021 07:00
in Technical analysis
0
Pound corrects higher due to dollar weakness

If the common currency manages to preserve the upside momentum in the short term, the 1.2180 intermediate barrier could be challenged

EURUSD

EURUSD has been climbing north for the third session in a row on Monday. The pair exceeded the 1.2150 local resistance to extend gains to nearly one-week highs around 1.2166 in recent trading. Now, if the common currency manages to preserve the upside momentum in the short term, the 1.2180 intermediate barrier could be challenged. Once above this hurdle, the pair would target the 1.2000 figure. On the downside, the immediate support is now expected at 1.2125, followed by 1.2100 where the ascending 20-DMA arrives. Of note, the daily RSI looks directionless at the moment, suggesting further gains could be limited in the immediate term.

GBPUSD

GBPUSD is marginally higher on Monday, trying to overcome the 1.4100 figure that has turned into resistance last week when the pair was rejected from multi-week highs around 1.4166. Despite the correction, the pair still looks bullish, clinging to the upper end of the extended trading range, with the technical picture on the weekly charts looking upbeat as well as the ascending 20-week moving average continues to act as support. Also on the positive side, the pound keeps trading above the key daily moving averages while the daily RSI is pointing slightly higher in the neutral territory. So, if the dollar retreats further in the near term, GBPUSD could overcome the 1.4100 figure to retarget the mentioned highs.

USDJPY

USDJPY has been trending marginally lower for the third consecutive day. The pair was earlier rejected from the 109.80 area to slip towards the 109.00 region on Monday. If this level gives up in the short term, the pair could challenge the 20-DMA, today at 108.80. As a reminder, the greenback challenged this moving average last week but managed to bounce eventually, suggesting the pair could derive support in this area if the selling pressure intensifies any time soon. On the upside, the initial target for bulls now arrives at 109.30, followed by the 109.50 area.

XAUUSD

Gold prices rallied to early-February highs, extending gains for the third day in a row on Monday. The precious metal climbed to the $1,855 area while breaking above the 200-DMA in process. The uptick was due to a combination of factors including the struggling dollar and the prevailing risk-off sentiment. However, slightly overbought conditions on intraday charts held bulls from placing more aggressive bets. Late last week, the bullion rallied due to broad-based weakness surrounding the dollar. Now, the prices need to stay above the mentioned moving average in order to avoid more aggressive profit-taking in the short term.

AUDUSD

AUDUSD struggles for direction on Monday, with the pair flirting with the 20-DMA around 0.7760 during the European hours. The pair rallied on Friday but failed to preserve upside momentum despite the indecisive dynamics in the greenback. The prices faced local resistance around 0.7780 and turned marginally negative today. Now, the Aussie needs to hold above the 0.7745 area in order to avoid a deeper retreat in the short term. On the hourly charts, AUDUSD is facing a barrier represented by the 20- and 100-SMAs that converge around 0.7765. a decisive break above this zone could mark some improvement in the immediate technical picture.

Tags: AUDUSDEURUSDGBPUSDGoldUSDJPYXAUUSD
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

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

Japan stocks pop 2.5%; Asia-Pacific shares mostly rise amid vaccine hopes

November 23, 2020 08:55
12
A slow start to the week in FX markets

Dollar bulls remain in control

September 28, 2021 07:04
17
US retail sales jumped by 17.7% unexpectedly, fueling expectations of a more robust recovery from the coronavirus crisis

Stocks stay afloat amid recovery hopes

June 17, 2020 05:03
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