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

Currencies steady after a rally in the greenback

November 1, 2021 14:45
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 » Currencies steady after a rally in the greenback

Currencies steady after a rally in the greenback

by Joseph Deen
November 1, 2021 14:45
in Technical analysis
0
Pound corrects higher due to dollar weakness

It looks like GBPUSD would stay on the defensive in the short term as the dollar remains steady nearly across the board

EURUSD

The dollar looks steady on Monday after a widespread rally as traders are shifting focus to the upcoming Fed’s two-day policy meeting that concludes on Wednesday. Last Friday, the euro slumped to mid-October lows around 1.1535 amid a broad-based rally surrounding the greenback. In the process, EURUSD dipped back below the ley moving averages to finish the week with solid losses. On Monday, the pair bounced slightly from the mentioned lows while staying below both the 20-DMA and the 1.1600 figure which represents the immediate bullish target again. On the downside, the euro could challenge fresh long-term lows below 1.1530 if the upside pressure surrounding the dollar reemerges anytime soon. On the four-hour charts, the technical picture looks downbeat despite the prices seeing a slight bounce from the lower end of the range.

GBPUSD

The cable stays under pressure on Monday, extending losses to mid-October lows around 1.3640 during the European hours. Earlier in the day, the pair failed to overcome the 20-DMA which arrives just below the 1.3700 figure and has been struggling to regain the upside bias since then. It looks like GBPUSD would stay on the defensive in the short term as the dollar remains steady nearly across the board as the Fed meeting looms. On the hourly timeframes, the recovery potential is capped by the descending 20-SMA while the RSI is flirting with the 30 figure, adding to a more downbeat short-term outlook. If the mentioned lows give up anytime soon, the next support should be expected at the 1.3620 area, followed by the 1.3600 figure.

USDJPY

USDJPY bounced from the ascending 20-DMA late last week to extend Friday’s gains today. The pair climbed to the 114.45 area before retreating marginally in recent trading. As the upside bias persists, the prices could challenge fresh four-year highs above 114.70 in the coming days to target the 115.00 figure if the Fed delivers a hawkish decision on Wednesday. On the downside, the immediate support is represented by the 114.00 figure, followed by the 113.80 region and the mentioned moving average, today at 113.40. In a wider picture, the overbought conditions on the weekly timeframes imply that the upside potential could be limited from here.

XAUUSD

Gold prices dipped to $1,770 on Friday amid a widespread rally surrounding the dollar. As a result, the precious metal finished the week on a downbeat footing. On Monday, the bullion makes some recovery attempts, but the bullish potential looks too modest at this point to bet on more robust gains in the short term. The XAUUSD pair was last seen flirting with the 100-DMA just below the $1,790 zone, with the $1,800 figure representing the immediate key resistance. On the downside, the 20-DMA acts as the nearest support, followed by the mentioned lows. Should the yellow metal see a stronger bounce in the near term, last week’s highs around $1,810 will come back into the market focus. For the time being, it looks like the path of least resistance is to the downside.

AUDUSD

The Aussie was rejected from the 200-DMA on Friday as the rally faded amid the renewed strength surrounding the greenback. The pair looks directionless around 0.7500 during the European hours after a brief dip towards 0.7485 earlier in the day. The immediate upside barrier is now represented by the 0.7525 area, followed by the mentioned moving average, today at 0.7555. The technical picture on the daily charts looks mixed, as the daily RSI is pointing south while the prices are stuck between the key moving averages. Anyway, the pair remains bullish as long as the prices stay above the ascending 20-DMA, today at 0.7420. On the four-hour timeframes, the upside potential is capped by the 20-SMA for the time being.

Tags: AUDUSDEURUSDGBPUSDGoldUSDJPYXAUUSD
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

U.K. internet service providers have seen double-digit increases in traffic amid the coronavirus lockdown.

The internet is under huge strain because of the coronavirus. Experts say it can cope — for now

March 27, 2020 11:03
17
Dollar lacks upside momentum due to lower Treasury yields

USD index keeps flirting with 100.00

April 12, 2022 06:22
16
Dollar lacks upside momentum due to lower Treasury yields

Currencies stuck in tight ranges

December 2, 2021 03:38
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