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

Dollar pares gains but looks relatively steady

May 27, 2021 06:47
Dollar lacks upside momentum due to lower Treasury yields

Dollar stays afloat as gold rally pauses

December 5, 2023 07:00
Stocks mixed while gold at fresh all-time highs to start the week

Stocks mixed while gold at fresh all-time highs to start the week

December 4, 2023 08:00
Stocks mixed, dollar indecisive to start the new month

Stocks mixed, dollar indecisive to start the new month

December 1, 2023 08:00
Dollar lacks upside momentum due to lower Treasury yields

USD keeps refreshing August lows

November 30, 2023 07:00
Global stocks mixed with Fed and China in focus

Global stocks mixed with Fed and China in focus

November 29, 2023 08:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar needs fresh impetus

November 28, 2023 07:00
Risk demand keeps waning in muted trading

Risk demand keeps waning in muted trading

November 27, 2023 08:00
Markets mixed in subdued holiday trading

Markets mixed in subdued holiday trading

November 24, 2023 09:01
Dollar lacks upside momentum due to lower Treasury yields

Greenback struggles to retain demand

November 23, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar attracts some demand

November 22, 2023 07:00
Markets await Fed Minutes

Markets await Fed Minutes

November 21, 2023 08:00
Dollar lacks upside momentum due to lower Treasury yields

USD retains bearish bias to start the week

November 20, 2023 07:00
  • Terms & Сonditions
  • Contact
Tuesday, December 5, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed, dollar indecisive to start the new month

    Stocks mixed, dollar indecisive to start the new month

    Global stocks mixed with Fed and China in focus

    Global stocks mixed with Fed and China in focus

    Risk demand keeps waning in muted trading

    Risk demand keeps waning in muted trading

    Markets mixed in subdued holiday trading

    Markets mixed in subdued holiday trading

    Markets await Fed Minutes

    Markets await Fed Minutes

    Risk rally wanes ahead of the weekend

    Risk rally wanes ahead of the weekend

    Markets cautiously await US inflation data

    Markets cautiously await US inflation data

    Powell triggered risk aversion across markets

    Powell triggered risk aversion across markets

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed, dollar indecisive to start the new month

    Stocks mixed, dollar indecisive to start the new month

    Global stocks mixed with Fed and China in focus

    Global stocks mixed with Fed and China in focus

    Risk demand keeps waning in muted trading

    Risk demand keeps waning in muted trading

    Markets mixed in subdued holiday trading

    Markets mixed in subdued holiday trading

    Markets await Fed Minutes

    Markets await Fed Minutes

    Risk rally wanes ahead of the weekend

    Risk rally wanes ahead of the weekend

    Markets cautiously await US inflation data

    Markets cautiously await US inflation data

    Powell triggered risk aversion across markets

    Powell triggered risk aversion across markets

  • 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 gains but looks relatively steady

Dollar pares gains but looks relatively steady

by Joseph Deen
May 27, 2021 06:47
in Technical analysis
0
Pound corrects higher due to dollar weakness

The euro remains bullish as long as the prices stay above the 20-DMA, today at 1.2135

EURUSD

EURUSD peaked at 1.2266 earlier in the week before correcting lower on Wednesday. In the process, the euro dipped below the 1.2200 figure, extending losses to 1.2175 earlier in the day. However, the common currency regained some bullish bias in recent trading, attempting to get back above the 1.2200 barrier at the time of writing. If this hurdle gives up, the mentioned highs last seen in January would come back into market focus. On the hourly charts, the pair is stuck between the key moving averages, pointing to a neutral technical picture in the immediate term. In a wider picture, the euro remains bullish as long as the prices stay above the 20-DMA, today at 1.2135.

GBPUSD

GBPUSD has been trending lower since last week when the pair peaked at 1.4233. Today, the cable extended losses to 10-day lows at 1.4091 before bouncing back above the 1.4100 figure. It looks like the pair would lack upside momentum to see a more robust recovery in the short term despite the greenback struggles to preserve recent gains. On the downside, failed attempts to confirm a break above 1.4100 could push the pound to the ascending 20-DMA around 1.4057. The pair bounced from this moving average earlier this month and could again derive support in this area should dollar demand pick up in the coming days.

USDJPY

USDJPY climbed to one-week highs around 109.20 earlier in the day following a modest bounce from the 20-DMA that arrives in the 109.00 area. This level remains in market focus now, as the greenback is yet to confirm a break above it on a daily closing basis. Considering the dollar still looks fragile and vulnerable to fresh losses, the mentioned local highs may trigger a downside correction in the short term. In this scenario, the immediate support should be expected at 108.75, followed by the 108.60-108.55 area. On the upside, a decisive break above 109.20 would pave the way towards 109.35, followed by last week’s tops in the 109.50 area.

USDCHF

USDCHF climbed to 0.8993 earlier in the day before retreating back to the flat-line in recent trading. The pair has settled in a tight range, struggling to extend gains seen on Wednesday. Now, the key target for dollar bulls arrives at 1.9000. A decisive break above this barrier would be a sign of a more pronounced bounce. However, as the prices remain below the key moving averages that arrive in the 0.9030-0.9100 region, downside risks continue to persist at this stage despite the current recovery attempts. On the four-hour charts, the greenback is attempting to hold above the 20-SMA that arrives at 0.8965.

USDCAD

USDCAD finished above the 1.2100 figure on Wednesday, extending gains to mid-May highs around 1.2140 today. Furthermore, the pair derailed the descending 20-DMA for the first time in over a month before retreating. The pair turned lower today as dollar demand has waned following the recent rally. The prices dipped to the 1.2100 handle, a break below which would pave the way towards the 1.2060 initial support if the downside correction continues in the short term. On the four-hour charts, USDCAD is getting bearish following a break below the descending 100-SMA while the RSI has reversed south in neutral territory, suggesting there is room for further downside in the immediate term.

Tags: EURUSDGBPUSDUSDCADUSDCHFUSDJPY
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

Dollar stays afloat as gold rally pauses

December 5, 2023 07:00
10
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD keeps refreshing August lows

November 30, 2023 07:00
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar needs fresh impetus

November 28, 2023 07:00
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback struggles to retain demand

November 23, 2023 07:00
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar attracts some demand

November 22, 2023 07:00
14
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD retains bearish bias to start the week

November 20, 2023 07:00
12

Leave Your Opinion Cancel reply

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

Recommended

A slow start to the week in FX markets

Dollar erases early losses but lacks momentum

February 23, 2021 03:54
15
Pound corrects higher due to dollar weakness

Dollar eases slightly from fresh highs

August 11, 2021 12:10
16
Pound corrects higher due to dollar weakness

Dollar gives up gains as risk sentiment improves

September 22, 2020 08:49
14

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
124
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