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

Dollar on the defensive to start the week

August 2, 2021 10:41
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
Friday, January 27, 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 » Dollar on the defensive to start the week

Dollar on the defensive to start the week

by Joseph Deen
August 2, 2021 10:41
in Technical analysis
0
Pound corrects higher due to dollar weakness

The yellow metal could stay under pressure in the near term despite dollar weakness

EURUSD

The dollar index gives away Friday’s gains as risk sentiment has improved at the start of the week. The index was last seen challenging the key support around 92.00 despite a mild advance in yields of the key US 10-year note. Against this backdrop, EURUSD erased Friday’s losses to settle marginally below the 1.1900 figure that represents the immediate resistance at this stage. The daily RSI is pointing slightly higher in the neutral territory, suggesting the pair could at least stay afloat in the near term. However, the common currency may need an extra catalyst in order to regain the 1.1900 figure on a daily closing basis as the pair lacks upside momentum despite the safe-haven demand for the greenback has abated since Friday.

GBPUSD

The cable turned marginally positive on Monday following a rejection from the 1.3980 region late last week. The pair has been lacking upside momentum since then and was last seen flirting with the 100-DMA that arrives just above the 1.3900 figure. If the pair manages to set a daily close above this level, the technical picture would improve somehow. However, as the daily RSI is nearly flat and the prices struggle to regain the mentioned moving average, it looks like the pound could come under renewed selling pressure in the near term. In a wider perspective, the pair continues to cling to the 20-week SMA while the RSI looks directionless, pointing to a neutral technical picture in the medium term.

XAUUSD

Gold prices have been losing ground for the second day in a row on Monday after failed attempts to break above the $1,830 region. Still, the bullion is holding above the $1,800 figure where the 100-DMA lies. As long as the precious metal is holding above this moving average, downside risks are limited. On the four-hour charts, the prices have settled below the key moving averages while the RSI is pointing slightly lower, suggesting the yellow metal could stay under pressure in the near term despite dollar weakness. If the bullion fails to hold above $1,800 on a daily closing basis, the $1,790 region will come back into market focus. On the upside, the $1,820 area (where the 200-DMA arrives) represents the immediate resistance.

USDCHF

USDCHF has been staying under pressure for the sixth day in a row on Monday. The pair has settled below the 200-DMA while holding just above Friday’s lows seen at 0.9040. As of writing, the dollar was trading at 0.9050. On the hourly charts, the technical picture looks neutral as the prices have been following the 20-SMA that caps bullish attempts at this stage. Now, the pair needs to overcome the 200-DMA, today at 0.9073, in order to regain the 0.9100 figure which represents the immediate resistance now. In a wider picture, the dollar needs to get back above the 20-week SMA (0.9135) so that the technical picture to improve somehow. On the downside, the pair needs to hold above the mentioned lows in order to avoid deeper losses in the coming days.

Tags: EURUSDGBPUSDGoldUSDCHFXAUUSD
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

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

Euro struggles below three-month highs, yen demand persists

Dollar mostly higher, the Japanese yen struggles for direction

May 4, 2020 16:32
17
Pound corrects higher due to dollar weakness

Safe-haven yen leads the gains while the euro struggles amid risk aversion

September 21, 2020 09:36
11

Yellen says U.S. could return to full employment next year if Congress passes $1.9 trillion stimulus

February 7, 2021 19:40
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