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

Greenback relatively steady, euro struggles to recover

June 15, 2021 12:37
Dollar lacks upside momentum due to lower Treasury yields

USD treads water after plunge, markets steady ahead of the weekend

May 20, 2022 06:21
Investor sentiment looks neutral at the start of the week

Modest bounce after sell-off ahead of the weekend

May 20, 2022 04:51
Dollar lacks upside momentum due to lower Treasury yields

Major currencies struggle below key SMAs

May 19, 2022 06:02
Geopolitical tensions ease but risks persist

Global stock rout continues on growth fears

May 19, 2022 05:00
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
  • Terms & Сonditions
  • Contact
Sunday, May 22, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    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

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    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

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Greenback relatively steady, euro struggles to recover

Greenback relatively steady, euro struggles to recover

by Joseph Deen
June 15, 2021 12:37
in Technical analysis
0
Pound corrects higher due to dollar weakness

The dollar looks steady ahead of fresh economic data out of the United States and the upcoming Federal Reserve meeting

EURUSD

EURUSD bounced from the 1.2090 area to climb to the 1.2150 intermediate resistance earlier in the day. However, the common currency failed to extend the recovery to come off the mentioned highs. The pair was last seen trading just marginally higher for the day, and it looks like the prices could get back under the downside pressure as the greenback looks relatively steady ahead of fresh economic data out of the United States and the upcoming Federal Reserve meeting. As long as the pair stays below the 1.2200 figure, downside risks continue to persist despite the recent bounce. In the longer run, however, the technical outlook for the euro remains upbeat.

GBPUSD

GBPUSD saw modest gains at the start of the week before turning negative again on Tuesday. The pair peaked around 1.4130 earlier in the day to get back under the 1.4100 figure in recent trading. Now, as the cable has settled below the 20-DMA while the daily RSI is pointing slightly south, the path of least resistance is to the downside in the short term while a longer-term outlook remains bullish, with the pair being marginally off long-term highs registered at 1.4250 at the start of this month. On the hourly charts, however, the pound was rejected from local highs earlier in the day, suggesting the prices could stay on the defensive in the immediate term.

USDJPY

USDJPY climbed to 1.5-week highs around 110.16 earlier in the day before turning flat in recent trading. The pair failed to extend a two-day rally that took the prices from the 109.30 area where the now ascending 20-DMA acted as support. Despite the dollar retreated in recent trading, the overall outlook looks more upbeat now, with the 110.30 region is back in market focus. A decisive break above this area would take the greenback to the 110.60 area last seen in early-April. However, the pair may need an extra catalyst to settle above 110.00 in the short term.

XAUUSD

Gold prices briefly dipped to nearly one-month lows around $1,844 at the start of the week before bouncing to the $1,865 area on Tuesday. During the sell-off, the bullion managed to hold above the 200-DMA, suggesting downside risks could be limited at this stage. Now, the precious metal needs to hold above the $1,860 area in order to regain upside bias and get back above the ascending 20-DMA, today at $1,888. A decisive recovery above this moving average would pave the way towards the $1,900 psychological barrier last seen late last week. On the four-hour charts, the XAUUSD pair is now stuck between the 20- and 200-SMAs while the RSI looks directionless, pointing to a neutral immediate technical picture.

AUDUSD

The Aussie failed to challenge the 100-DMA on Monday to come back under the selling pressure today. The pair slipped to 1.5-week lows around 0.7685, struggling to recover above the 0.7700 figure during the European hours. As the daily RSI is pointing south in the neutral territory while the prices stay below the 100- and 20-DMAs, the path of least resistance is to the downside at this stage. A decisive recovery above the 0.7700 mentioned local resistance and a daily close beyond it would somehow improve the short-term technical picture. On the four-hour charts, the outlook looks bearish, with upside potential remains capped by the key simple moving averages.

Tags: AUDUSDEURUSDGBPUSDGoldUSDJPYXAUUSD
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

USD treads water after plunge, markets steady ahead of the weekend

May 20, 2022 06:21
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Major currencies struggle below key SMAs

May 19, 2022 06:02
12
Geopolitical tensions ease but risks persist
Fundamental analysis

Global stock rout continues on growth fears

May 19, 2022 05:00
16
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
15
Chinese data spooks investors, sentiment turns sour
Fundamental analysis

Stock markets turn directionless after a bounce

May 18, 2022 05:08
15
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies enjoy a bounce amid a weaker USD

May 17, 2022 06:51
16

Leave Your Opinion Cancel reply

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

Recommended

Dollar lacks upside momentum due to lower Treasury yields

Greenback struggles as short-term bears take control

March 15, 2022 07:08
13

Agencies issue host state loan-to-deposit ratios

May 21, 2021 14:45
10

Watch Fed Chair Jerome Powell talk rates, the economy and pandemic stimulus live

October 6, 2020 11:14
10

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