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

Dollar mixed to start the week

October 11, 2021 10:53
Equity markets mostly depressed

Equity markets mostly depressed

September 22, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar receives fresh impetus from Fed

September 21, 2023 07:01
Dollar lacks upside momentum due to lower Treasury yields

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
Stock markets directionless as Fed meeting looms

Stock markets directionless as Fed meeting looms

September 19, 2023 07:03
Dollar lacks upside momentum due to lower Treasury yields

Dollar under some pressure after the weekend

September 18, 2023 07:00
Economic data and ECB boost stock market rally

Economic data and ECB boost stock market rally

September 15, 2023 07:57
Dollar lacks upside momentum due to lower Treasury yields

USD hesitates below the 105.00 barrier

September 14, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

USD steady and resilient in anticipation of US CPI

September 13, 2023 07:15
Stock markets struggle for direction ahead of major events

Stock markets struggle for direction ahead of major events

September 12, 2023 07:19
Dollar lacks upside momentum due to lower Treasury yields

Dollar rally pauses to start the week

September 11, 2023 06:46
Risk sentiment improves somewhat after a streak of losses

Risk sentiment improves somewhat after a streak of losses

September 8, 2023 07:08
Dollar lacks upside momentum due to lower Treasury yields

Unabated dollar demand keeps pressuring gold

September 7, 2023 07:26
  • Terms & Сonditions
  • Contact
Saturday, September 23, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equity markets mostly depressed

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

    Powell and China fuel stock market rally

    Powell and China fuel stock market rally

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equity markets mostly depressed

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

    Powell and China fuel stock market rally

    Powell and China fuel stock market rally

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

Home » Dollar mixed to start the week

Dollar mixed to start the week

by Joseph Deen
October 11, 2021 10:53
in Technical analysis
0
A slow start to the week in FX markets

The EURUSD pair could threaten mid-2020 lows around 1.1530 in the coming days if dollar demand reemerges

EURUSD

The dollar remains resilient at the beginning of the week while the buying pressure has eased somehow following the release of a weaker-than-expected US jobs report last Friday. Still, the euro failed to regain the 1.1585 intermediate barrier earlier on Monday to retreat towards the 1.1550 area before trimming intraday losses in recent trading. As long as the common currency stays below the 1.1600 figure, downside risks continue to persist. The EURUSD pair could threaten mid-2020 lows around 1.1530 in the coming days if dollar demand reemerges. In this scenario, the 1.1500 figure would come into the market focus. In a wider picture, the euro struggles following five weeks of losses, and it looks like the path of least resistance remains to the downside so far.

GBPUSD

The cable climbed to fresh October highs around 1.3670 earlier in the day before paring gains. In the process, the pair dipped back below a slightly descending 20-DMA to settle in the 1.3630 area in recent trading, up 0.11% on the day. The pound needs to regain this moving average in the short term in order to preserve the upside bias and extend gains to fresh local highs. However, it looks like the bullish potential is limited at this stage, especially as the prices stay below the 1.3700 figure last seen in late-September. On the downside, the immediate support arrives around 1.3600, followed by the 1.3575 area and 1.3540. On the hourly charts, the cable derives support from the 100-SMA. A break below this moving average (today at 1.3609) could bring back the downside pressure.

USDJPY

USDJPY rallied to fresh three-year highs around 113.00 on Monday as market players continue to bet on tapering of the Fed’s bond-buying in November despite soft U.S. payrolls data. Despite the emerging overbought conditions, the pair could extend the ascent in the coming days, as the dollar may receive another boost to notch fresh gains during the week. In recent trading, the prices have retreated marginally from the mentioned highs to settle around 112.90, up 0.63% on the day. Should the dollar proceed to a correction, the initial support should be expected in the 112.50 area, followed by the 112.20 region and the 112.00 handle. In a wider picture, the technical outlook looks bullish, but the weekly RSI is nearing the overbought territory, suggesting the bullish momentum could wane in the coming days.

USDCAD

USDCAD keeps edging lower on Monday, losing ground for the third day in a row. The pair slipped below the 100-DMA to extend losses to the 1.2445 area last seen in late-July. Now, as the prices have settled below the key moving averages, it looks like USDCAD looks set to derail the 1.2400 figure. However, should this level cap the downside pressure, a bounce higher could be expected in the coming days. as of writing, the pair was changing hands around 1.2445, down 0.08% on the day. The daily RSI is pointing lower in the neutral territory, suggesting there is room for further losses in the near term. On the four-hour timeframes, the RSI is recovering while staying on the oversold territory, which implies that the downside pressure could ease further in the immediate term.

Tags: EURUSDGBPUSDUSDCADUSDJPY
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

Dollar receives fresh impetus from Fed

September 21, 2023 07:01
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
14
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar under some pressure after the weekend

September 18, 2023 07:00
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD hesitates below the 105.00 barrier

September 14, 2023 07:00
17
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD steady and resilient in anticipation of US CPI

September 13, 2023 07:15
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar rally pauses to start the week

September 11, 2023 06:46
14

Leave Your Opinion Cancel reply

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

Recommended

Bitcoin sinks to two-week low as China intensifies crypto mining crackdown

June 21, 2021 14:44
10

Democrats prepare to pass Covid relief bill without Republican votes

January 27, 2021 19:42
13
Market sentiment improves, focus shifts to US inflation data

Markets mixed in Christmas Eve trade

December 24, 2021 00:45
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
124
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