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

Downside pressure surrounding the dollar looks limited

July 22, 2021 06:49
Equities struggle amid economic and China-related concerns

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
Dollar lacks upside momentum due to lower Treasury yields

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
Stocks gain, dollar eases ahead of job market data

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off the pressure

December 26, 2022 05:13
Investors spooked by strong US data

Investors spooked by strong US data

December 23, 2022 11:55
Dollar lacks upside momentum due to lower Treasury yields

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
Risk demand reemerges cautiously, but caution remains in place

Risk demand reemerges cautiously, but caution remains in place

December 21, 2022 08:49
Dollar lacks upside momentum due to lower Treasury yields

US dollar resists selling pressure

December 20, 2022 10:44
Market sentiment dented by recession fears

Market sentiment dented by recession fears

December 19, 2022 02:53
Dollar lacks upside momentum due to lower Treasury yields

Greenback stays on the defensive nearly across the board

November 16, 2022 05:34
Investor sentiment improves, but gains limited

Investor sentiment improves, but gains limited

November 15, 2022 05:46
Dollar lacks upside momentum due to lower Treasury yields

Dollar licks wounds after plunge

November 14, 2022 05:05
  • Terms & Сonditions
  • Contact
Tuesday, March 28, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

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

Home » Downside pressure surrounding the dollar looks limited

Downside pressure surrounding the dollar looks limited

by Joseph Deen
July 22, 2021 06:49
in Technical analysis
0
Pound corrects higher due to dollar weakness

Euro could threaten fresh medium-term lows

EURUSD

EURUSD failed to regain the 1.1800 figure to settle just below this immediate barrier in recent trading. The pair turned marginally lower on the day following a brief and modest recovery seen on Wednesday. Should the pressure reemerge, the pair could revisit April lows around 1.1750. On the four-hour charts, the common currency was last seen flirting with the 20-SMA, a break below which would signal further deterioration in the short-term technical picture. In a wider perspective, the outlook continues to deteriorate further as well. Should the mentioned lows fail to withstand the pressure, the 1.1700 figure would come back into market focus for the first time since late-March.

GBPUSD

GBPUSD has been climbing north for the second day in a row, extending the recovery from fresh lows around 1.3570 registered earlier in the week. On Thursday, the cable advanced to 1.3760 following a decisive break above a slightly ascending 100-DMA that arrives at 1.3700. Now, the pair needs to hold above 1.3720 in order to retarget the 20-DMA (today at 1.3800). However, it looks like the pound would lack upside momentum to turn this figure into resistance in the near term as the downside pressure surrounding the greenback looks limited for the time being.

USDJPY

USDJPY rebounded from intraday lows seen marginally above the 110.00 figure to turn unchanged on the daily charts. The pair remains afloat but struggles to extend the recent two-day rally from the 109.00 figure that triggered a bounce at the start of the week. On the hourly charts, the greenback has settled above the 20-SMA while the RSI is pointing north in neutral territory, suggesting USDJPY could yet turn positive on the day if the dollar withstands the current pressure. In a wider picture, the technical outlook has improved since the bounce from the mentioned lows. Furthermore, the prices are now back above the 20-week SMA, adding to a more upbeat technical picture.

XAUUSD

Gold prices have been losing ground for the third day in a row on Thursday to register 1.5-week lows around $1,792 earlier in the day. The precious metal failed to hold above the $1,800 threshold as a renewed risk-on wave has gripped global markets. If the dollar climbs later today, gold prices may extend losses to the $1,790 area, followed by $1,784. On the weekly charts, the precious metal is clinging to the 20-SMA that arrives just below the $1,800 figure. A daily and weekly close below this moving average would signal some deterioration in the medium-term technical picture. On the upside, the immediate upside barrier arrives at $1,810, followed by the 200-DMA that arrives at $1,823 today.

USDCHF

USDCHF struggles to regain upside momentum following yesterday’s decline. The pair failed to hold above the 20-DMA that represents the immediate upside barrier at 0.9190 while on the downside, the 100-DMA continues to act as the nearest support that has been capping losses since late-last week. As long as the dollar stays above this moving average that arrives at 0.9160 today, downside risks look limited. On the upside, USDCHF needs a decisive break above the 20-DMA in order to erase previous losses and regain the 0.9200 barrier. On the weekly timeframes, the pair managed to hold above the 20-SMA to trade unchanged during the European hours.

Tags: EURUSDGBPUSDGoldUSDCHFUSDJPYXAUUSD
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

Equities struggle amid economic and China-related concerns
Fundamental analysis

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
12
Stocks gain, dollar eases ahead of job market data
Fundamental analysis

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar tries to shrug off the pressure

December 26, 2022 05:13
12
Investors spooked by strong US data
Fundamental analysis

Investors spooked by strong US data

December 23, 2022 11:55
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
16

Leave Your Opinion Cancel reply

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

Recommended

Global stocks struggle after a bearish week

Global stocks struggle after a bearish week

October 4, 2021 09:49
16
Dollar lacks upside momentum due to lower Treasury yields

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
16

Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, continues quantitative easing

March 10, 2021 14:45
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 © 2022 FWNews

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

Copyright © 2022 FWNews