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

Dollar licks wounds after a sell-off

October 29, 2021 13:41
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 licks wounds after a sell-off

Dollar licks wounds after a sell-off

by Joseph Deen
October 29, 2021 13:41
in Technical analysis
0
Pound corrects higher due to dollar weakness

On the weekly charts, the euro is about to register the third bullish week in a row

EURUSD

The dollar is regaining ground after yesterday’s sell-off. The USD index is attempting a rebound to the 93.40 area, leaving behind the recent weakness seen on the back of a not-so-dovish signal from the ECB. EURUSD rallied to the 1.1690 region after the central bank’s meeting, but failed to hold on to its gains and fell back to 1.1650 during the European hours on Friday. The technical picture on the daily charts looks mixed at this point, with the RSI pointing south while the prices are holding above the 20-DMA, today at 1.1600. As long as the common currency stays above this figure, bearish risks are limited. On the upside, the pair needs to make a decisive break above the 1.1700 hurdle to see a more robust ascent in the coming days. On the weekly charts, the euro is about to register the third bullish week in a row.

GBPUSD

The cable retains a modest bullish bias on Friday, clinging to a slightly descending 100-DMA during the European hours. Following a rejection from this week’s highs around 1.3830, the pair struggles to regain the 1.3800 figure which represents the immediate barrier for bulls. Should this level give up anytime soon, the pound would retarget the aforementioned local highs. Otherwise, GBPUSD will get back below the 100-DMA and could challenge the ascending 20-DMA (today at 1.3700) last seen more than two weeks ago. However, such a scenario looks unlikely at this point, with downside risks limited. On the hourly charts, the technical picture looks neutral, with the RSI directionless around the 55 figure. On the other hand, the pair needs to overcome the 20-DMA on a daily closing basis in order to see more robust gains in the coming days.

USDJPY

USDJPY dipped to two-week lows around 113.25 on Thursday. In the process, the dollar managed to hold above the ascending 20-DMA which has been acting as a support zone for over a month already. As a result, the pair bounced back into the positive territory on Friday and was last changing hands around 113.75. Despite the greenback regained bullish bias, it looks like it would lack the upside impetus to stage a more robust recovery in the short term. USDJPY was last seen changing hands around 113.70, up 0.15% on the day. On the four-hour timeframes, the pair has been struggling below the 20-DMA since Wednesday, which implies that the greenback will hardly be able to regain the 114.00 handle in the near term.

BTCUSD

The bitcoin price rebounded sharply on Thursday, rising back above the 20-DMA. However, the largest cryptocurrency by market capitalization failed to extend gains, lacking upside momentum. The BTCUSD pair has settled just below the $61,000 figure, struggling for direction on Friday. The digital currency struggles to get back to its all-time highs registered last week around the $67,000 figure. However, the bearish potential seems limited at this point, and the recent drop should not even be considered a market correction due to the volatile nature of cryptocurrencies. If the prices manage to hold above the aforementioned moving average, the bulls could retarget the $62,500 area, followed by the $63,700 barrier. On the downside, a break below $60,000 would pave the way towards $58,800 and then to yesterday’s lows seen marginally above the $59,000 figure.

USDCHF

USDCHF extends its bearish correction from local highs seen around 0.9225 earlier in the week. On Friday, the pair slipped to late-August lows in the 0.9100 area. Should this level withstand the pressure, a bounce could be expected in the short term. Otherwise, the greenback would suffer deeper losses, with the immediate bearish target arriving at 0.9075. Also on the negative side, USDCHF has settled below the key moving averages which represent local barriers on the way towards the early-April highs seen at 0.9370 one month ago. In the immediate term, the pair needs to regain the 0.9150 region so that to retarget the 20-DMA, today at 0.9186.

Tags: BTCUSDEURUSDGBPUSDUSDCHFUSDJPY
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

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

Tech analysis

Euro at six-week highs as dollar bulls retreat

March 2, 2020 09:40
24
A slow start to the week in FX markets

Euro rallies as positive risk sentiment persists

November 5, 2020 08:02
13
Dollar lacks upside momentum due to lower Treasury yields

Greenback off peaks but bulls remain in control

March 22, 2022 06:07
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