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

Greenback came under pressure despite risk-off tone in the markets

July 8, 2021 07:49
Investors stay depressed after heavy losses

Investors stay depressed after heavy losses

September 25, 2023 07:00
Equity markets mostly depressed

Equity markets mostly depressed

September 22, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar receives fresh impetus from Fed

September 21, 2023 07:01
Dollar lacks upside momentum due to lower Treasury yields

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
Stock markets directionless as Fed meeting looms

Stock markets directionless as Fed meeting looms

September 19, 2023 07:03
Dollar lacks upside momentum due to lower Treasury yields

Dollar under some pressure after the weekend

September 18, 2023 07:00
Economic data and ECB boost stock market rally

Economic data and ECB boost stock market rally

September 15, 2023 07:57
Dollar lacks upside momentum due to lower Treasury yields

USD hesitates below the 105.00 barrier

September 14, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

USD steady and resilient in anticipation of US CPI

September 13, 2023 07:15
Stock markets struggle for direction ahead of major events

Stock markets struggle for direction ahead of major events

September 12, 2023 07:19
Dollar lacks upside momentum due to lower Treasury yields

Dollar rally pauses to start the week

September 11, 2023 06:46
Risk sentiment improves somewhat after a streak of losses

Risk sentiment improves somewhat after a streak of losses

September 8, 2023 07:08
  • Terms & Сonditions
  • Contact
Monday, September 25, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investors stay depressed after heavy losses

    Investors stay depressed after heavy losses

    Equity markets mostly depressed

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investors stay depressed after heavy losses

    Investors stay depressed after heavy losses

    Equity markets mostly depressed

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

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

Home » Greenback came under pressure despite risk-off tone in the markets

Greenback came under pressure despite risk-off tone in the markets

by Joseph Deen
July 8, 2021 07:49
in Technical analysis
0
Pound corrects higher due to dollar weakness

USDJPY has been under heavy selling pressure since peaking at 111.65 late last week

EURUSD

The euro managed to recover above the 1.1800 figure to erase yesterday’s losses as dollar demand has eased despite the persisting risk aversion across the financial markets. The EURUSD pair has settled marginally above 1.1820. However, the pair could see another retreat below 1.1800. A daily close under this figure would mark further deterioration in the short-term technical picture. so far, further gains in the pair are being capped by the 1.1835-1.1840 area, a decisive break above which would pave the way towards 1.1880, followed by 1.1900. On the four-hour charts, the technical picture has improved somewhat in recent trading, with the euro flirting with the descending 20-SMA.

GBPUSD

The cable extends its correction from the 1.3900 figure that triggered a retreat earlier this week. Today, the pair slipped to the 1.3750 area despite the prevailing dollar weakness, suggesting the pound could stay vulnerable in the coming days. The daily RSI is pointing slightly south, treading water around the oversold levels but is yet to get back under the 30 handle, which implies that GBPUSD will at least struggle to see a solid recovery in the near term and could stage a reversal at lower levels. On the downside, the 1.3730 area in focus now, as a break below it would send the prices to mid-April lows in the 1.3715 region.

USDJPY

Risk aversion sent the USDJPY pair to June 21st lows around 109.75 after a break below 110.00. The dollar has been under heavy selling pressure since peaking at 111.65 late last week. If the mentioned lows fail to withstand the pressure, the pair could target the 109.30 area, followed by the ascending 100-DMA that arrives just above the 109.00 figure. During the plunge, the greenback dipped back below the ascending 20-DMA, and it looks like the path of least resistance remains to the downside for the time being. Should the prices proceed to recovery, the immediate resistance is now represented by the 110.00 figure. In the weekly charts, however, downside risks are limited as long as the pair stays above the 20-week SMA, today at 109.30.

XAUUSD

Gold prices have been rallying for the seventh day in a row on Thursday. The precious metal climbed to mid-June highs around $1,815 and could now target the 200-DMA that arrives at $1,828. However, the bullion will likely need an extra catalyst to overcome this hurdle as the bulls could make a pause after a solid series of growth. In case of a retreat, the XAUUSD pair would get back under the $1,800 figure where the descending 20-DMA lies. On the hourly charts, however, there are no clear overbought signals, suggesting there is room for further upside in the immediate term.

USDCHF

USDCHF plunged dramatically on Thursday amid stronger demand for the Swiss franc as a safe-haven currency. As a result, the pair dipped to the ascending 20-DMA for the first time since mid-June and was last seen clinging to the lower end of the extended trading range around 0.9170. If the mentioned moving average fails to withstand the pressure, USDCHF could challenge the 100-DMA that arrives at 0.9150. However, the pair will likely manage to hold above this support zone as the pressure surrounding the greenback could ease in the short term. In this scenario, a correction towards the 0.9200 initial upside target should be expected.

Tags: EURUSDGBPUSDGoldUSDCHFUSDJPYXAUUSD
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 receives fresh impetus from Fed

September 21, 2023 07:01
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
14
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar under some pressure after the weekend

September 18, 2023 07:00
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD hesitates below the 105.00 barrier

September 14, 2023 07:00
17
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD steady and resilient in anticipation of US CPI

September 13, 2023 07:15
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar rally pauses to start the week

September 11, 2023 06:46
14

Leave Your Opinion Cancel reply

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

Recommended

Residents wait in line for free groceries from a pop-up food pantry amid the coronavirus disease (COVID-19) outbreak in Chelsea, Massachusetts, U.S., May

Fed officials suggest U.S. recovery may be stalling

July 9, 2020 05:45
13
Dollar lacks upside momentum due to lower Treasury yields

USD regains bullish bias, volatility ebbs somehow

June 23, 2022 08:44
21
Markets shrug off rising US inflation

Global investors cheer Fed decision, dollar recovers

November 4, 2021 11:18
13

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