• Latest
  • Trending
  • All
A slow start to the week in FX markets

Dollar directionless ahead of FOMC

July 28, 2021 07:09
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 directionless ahead of FOMC

Dollar directionless ahead of FOMC

by Joseph Deen
July 28, 2021 07:09
in Technical analysis
0
A slow start to the week in FX markets

 If the dollar receives a boost from the central bank, the common currency could threaten the 1.1750 region that capped losses last week

EURUSD

EURUSD encountered the intermediate resistance around 1.1840 on Tuesday and has been struggling to regain bullish bias since then. Today, the pair oscillates around the 1.1800 figure, with the downside pressure mounting in recent trading as traders shift focus to the outcome of the Fed meeting due later today. If the dollar receives a boost from the central bank, the common currency could threaten the 1.1750 region that capped losses last week. On the four-hour charts, the pair slipped below the 100-DMA and was last seen targeting the 20-SMA, today at 1.1797. The path of least resistance remains to the downside at this stage while on the upside, the immediate target for euro bulls arrives at 1.1830 where intraday highs lie.

GBPUSD

GBPUSD edged to nearly two-week highs at 1.3894 earlier in the day, treading water in a tight trading range on Wednesday as the dollar struggles for direction ahead of the FOMC meeting. The pound has been trending higher these days, extending the rebound from multi-week lows registered at 1.3570 last week. However, further gains could be limited in the near term, as the prices are nearing the 100-DMA, today just below the 1.3900 figure. This moving average could act as resistance and trigger a retreat towards 1.3860 or even lower. On the hourly timeframes, GBPUSD is flirting with a slightly ascending 20-SMA which could turn into resistance in the short term.

USDJPY

USDJPY is stuck between the 20- and 100-DMAs following a plunge seen on Tuesday. Today, the pair regained a modest upside bias but still struggled to overcome the 110.00 figure that represents the intermediate barrier on the way towards the 20-DMA, today at 110.27. If the dollar managed to overcome this hurdle on a daily closing basis, the local highs around 110.60 will come back into market focus next. Of note, the technical picture is improving on the four-hour timeframes, with the RSI pointing north while are trending higher, targeting the area where the key moving averages converge. In general, the short-term outlook for the greenback looks relatively upbeat despite the pair lacks the recovery momentum at this stage.

XAUUSD

Gold prices have been steady this week, treading water around the $1,800 figure. The bullion maintains a slightly bullish tone during the European hours. However, the upside potential looks limited for the time being as the greenback is back on the offensive today. If the dollar extends the ascent in the short term, the bullion could come back under selling pressure. On the downside, the key support arrives at $1,890, followed by the $1,775 region last seen at the beginning of this month. In a wider picture, the XAUUSD pair oscillates around the 20-week SMA that arrives at $1,800, with the technical outlook looking neutral for the time being as the RSI is directionless around 48. A decisive break above this moving average would pave the way towards the $1,820 region, followed by this month’s tops seen at $1,834 registered on July 15th.

USDCAD

USDCAD remains stuck between the 20- and 200-DMAs these days. The pair encountered resistance in the form of the 20-DMA earlier in the day to turn negative. As a result, the dollar erased most of yesterday’s gains and was last seen changing hands around 1.2565, down 0.25% for the day. Despite the bearish bias has reemerged, downside risks look limited as long as the prices stay above the mentioned ascending 20-DMA, today at 1.2523. This moving average has been acting as support since early-June. On the upside, USDCAD needs to make a decisive break above the 1.2600 figure in order to proceed to a sustained recovery towards late-January peaks last seen just above 1.2800 in June.

Tags: EURUSDGBPUSDGoldUSDCADUSDJPYXAUUSD
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

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

Stocks are back in sell-off mode. Former Fed Chairman Alan Greenspan and two others on what could be next

September 10, 2020 14:32
10

Bank of Canada welcomes use of new liquidity facility by financial institutions

March 31, 2020 17:21
10
Equity markets mixed, focus shifts to Blinken-Lavrov meeting

Markets struggle for direction at the end of a choppy week

March 25, 2022 04:59
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
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