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

Dollar retreats across the market

September 15, 2021 08:53
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, February 7, 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 retreats across the market

Dollar retreats across the market

by Joseph Deen
September 15, 2021 08:53
in Technical analysis
0
Pound corrects higher due to dollar weakness

The euro refrains from revisiting yesterday’s highs registered around 1.1845

EURUSD

Dollar demand has eased across the market on Wednesday after US CPI missed expectations. Consumer prices in August rose 0.3% over the previous month versus 0.4% expected. As a result, EURUSD turned positive to erase previous losses and extended gains to the 1.1830 area. Still, the pair refrains from revisiting yesterday’s highs registered around 1.1845 in a knee-jerk reaction to inflation data. Now, the common currency needs to hold above the 1.1800 figure in order to stay afloat and retain a bullish bias in the short term. EURUSD was last seen changing hands around 1.1822, up 0.17% for the day. On the four-hour charts, the euro is losing upside momentum, with the RSI getting flat in the neutral territory, suggesting the upside potential could be limited from here in the near term.

GBPUSD

The cable briefly dipped below the 1.3800 figure earlier in the day to stage a bounce eventually. The pair climbed back to the 1.3840 area but is still well off yesterday’s highs above 1.3900 where the 100-DMA capped a short-lived rally. Now, the pound needs to make a decisive break above the 200-DMA, today at 1.3825. If this moving average turns into support in the short term, the 1.3850 zone will come into the market focus next. In a wider picture, the bullish potential has been capped by the 20-week SMA since June, and it looks like the prices will stay below this barrier in the days and weeks to come as the greenback could stay on the offensive due to a hawkish tone from the Federal Reserve.

USDJPY

USDJPY slipped below the key moving averages on Tuesday to accelerate the retreat today. The pair extended losses to one-month lows around 109.25 and was last seen clinging to the lower end of the extended trading range. Several failed attempts to make a decisive break above the 110.00 figure suggest that the greenback lacks the bullish impetus to stage a more robust ascent, with downside risks persisting in the short term. On the four-hour charts, however, the RSI has reached the 30 figure before turning flat, which implies that the selling pressure could ease in the immediate term. In this scenario, the prices may see a bounce to the 109.50 area, followed by the 109.75 intermediate resistance on the way towards the 110.00 barrier.

XAUUSD

Gold prices surged to the $1,808 area where the 200-DMA capped gains on Tuesday. Today, the precious metal retreated, clinging to the $1,800 figure during the European hours. The bullion needs to hold above the $1,800 level on a daily closing basis in order to stay afloat and avoid another retreat in the coming days. Of note, this figure is now threnthened by the 20-day SMA, suggesting a decisive break above this area could add to upside momentum in the market. In general, the upside potential in gold prices remains limited, with bearish risks persisting for the time being. If the yellow metal fails to stay above the mentioned 20-DMA in the near term, the $1,780 key support zone will come back into the market focus.

USDCHF

USDCHF has been trending lower since yesterday. The pair peaked at 0.9240 at the beginning of the week and has been struggling to regain upside momentum since then. The dollar extended losses to the 0.9170 region in recent trading, threatening the 20-DMA, today at 0.9160. This moving average has been acting as support for a week already, so a break below it would add to the negative tone surrounding the greenback. On the other hand, it looks like the bearish potential could be limited at this stage, and the mentioned moving average may trigger a bounce in the near term. On the hourly timeframes, USDCHF has settled below the key moving averages while the RSI is nearing the oversold territory, which implies that the dollar could stay on the defensive in the immediate term.

Tags: EURUSDGBPUSDGoldUSDCHFUSDJPYXAUUSD
Share2Tweet2
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

Risk-on trends persist ahead of the ECB meeting

Market focus shifts from ECB to CPI

June 10, 2022 05:34
18
Markets struggle for direction, dollar steady after gains

Markets struggle for direction, dollar steady after gains

August 5, 2021 11:08
14
Investors cautious amid virus-related uncertainty

Equity markets struggle for direction, US-China tensions in focus

February 8, 2022 16:22
11

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