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

Euro lacks recovery momentum

August 12, 2021 12:57
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 » Euro lacks recovery momentum

Euro lacks recovery momentum

by Joseph Deen
August 12, 2021 12:57
in Technical analysis
0
Pound corrects higher due to dollar weakness

The pressure surrounding the dollar looks limited, as the euro struggles to extend the recovery

EURUSD

EURUSD bounced from the 1.1705 area on Wednesday to trim some losses as the dollar retreated marginally amid a lower-than-expected US inflation. However, the pressure surrounding the dollar looks limited, as the euro struggles to extend the recovery, trading in the negative territory on Thursday. At this stage, the 1.1750 region represents the immediate upside barrier, a decisive break above which would pave the way towards the 1.1800 handle. On the four-hour charts, the common currency is trying to hold above the 20-SMA while the RSI is pointing slightly lower in the neutral territory, suggesting the pair could come under renewed selling pressure in the short term before staging a reversal.

GBPUSD

The cable derived support from the 1.3800 figure on Wednesday to stage a local bounce as dollar demand has eased somehow after climbing to fresh multi-week highs. The cable now faces the immediate barrier at 1.3880. A break above this area would pave the way towards 1.3900, followed by the 100-DMA that arrives at 1.3923. This moving average represents the key barrier for sterling bulls at this stage. As long as the prices stay below this level, the upside risks are limited. On the hourly timeframes, the pound is now back under the 100- and 20 SMAs. The pair was last seen changing hands around 1.3850, unchanged for the day. In a wider perspective, GBPUSD remains confined to a relatively tight trading range on the weekly charts.

USDJPY

USDJPY briefly jumped to the 110.80 region for the first time since early-July on Wednesday but failed to preserve the momentum and retreated to finish lower. Today, the pair struggles to see a more robust recovery, staying below the 110.50 area that represents the immediate resistance. On the downside, the 110.30 region represents the nearest support. A break below this figure would pave the way towards the 110.00 level, followed by the 20-DMA that arrives at 109.93. As long as the greenback holds above this moving average, downside risks are limited. Furthermore, the daily RSI is pointing slightly higher in the neutral territory, suggesting the path of least resistance is to the upside for the time being.

EURJPY

The cross has been trending slightly higher for the third consecutive day on Thursday, flirting with the 20-DMA that continues to cap gains as the bullish potential surrounding the common currency is limited. The pair faces a local barrier in the 129.70-129.80 area that caps the ascent towards the 130.00 figure last seen a week ago. Of note, this level prevented the euro from further gains then, suggesting EURJPY would need an extra catalyst to turn 110.00 into support. On the hourly charts, the immediate technical picture looks neutral while the 100-SMA (today at 129.60) represents the nearest target for yen bulls. In a wider picture, the pair continues to gradually decline from the 20-week SMA while also holding off the lows seen last month.

NZDUSD

NZDUSD encountered resistance in the 0.7060 area on Wednesday and has been struggling to extend the recovery since then. The pair turned marginally lower on the day in recent trading and was last seen changing hands around 0.7030. The prices remain stuck in a range between the key moving averages, with the 20-DMA, today at 0.6990, continues to act as support. As the New Zealand dollar failed to overcome the mentioned resistance during the recent recovery, it looks like upside risks would stay limited in the short term. On the upside, the 200-DMA around 0.7100 represents the key barrier. Of note, the pair has been staying below this moving average since mid-June and could continue to cap gains in the medium term.

Tags: EURJPYEURUSDGBPUSDNZDUSDUSDJPY
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

Biden and Yellen met with CEOs of JPMorgan, Walmart, Gap to talk stimulus

February 9, 2021 19:39
10
Stocks mostly lower despite upbeat economic data

Markets failed to extend the bounce, back under pressure

May 16, 2022 04:38
16
A slow start to the week in FX markets

ECB’s Lagarde sends euro higher across the board

September 10, 2020 09:08
14

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