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

Dollar slightly lower amid profit-taking

November 15, 2021 05:53
Dollar lacks upside momentum due to lower Treasury yields

Dollar comes off fresh lows in volatile trading

May 27, 2022 06:55
Investor sentiment mixed in thinner pre-holiday deals

Investors cautiously optimistic ahead of the weekend

May 27, 2022 04:15
Dollar lacks upside momentum due to lower Treasury yields

USD back under pressure as market sentiment improves

May 26, 2022 06:57
Downbeat tone ahead of news from the US

Markets digest FOMC meeting minutes

May 26, 2022 06:46
Dollar lacks upside momentum due to lower Treasury yields

Dollar off one-month lows as bulls reenter the game

May 25, 2022 06:12
Market sentiment worsens across the world

Stocks bounce after another widespread sell-off

May 25, 2022 04:54
Dollar lacks upside momentum due to lower Treasury yields

Greenback trims losses, but stays offered nearly across the board

May 24, 2022 06:12
Global stocks in recovery mode but still cautious

Stocks back under pressure after short-lived relief rally

May 24, 2022 04:42
Dollar lacks upside momentum due to lower Treasury yields

Dollar keeps bleeding as bearish correction continues

May 23, 2022 06:27
Markets digest the inflation shock, dollar enjoys the rally

Dollar sags as investor sentiment keeps improving

May 23, 2022 05:09
Dollar lacks upside momentum due to lower Treasury yields

USD treads water after plunge, markets steady ahead of the weekend

May 20, 2022 06:21
Investor sentiment looks neutral at the start of the week

Modest bounce after sell-off ahead of the weekend

May 20, 2022 04:51
  • Terms & Сonditions
  • Contact
Sunday, May 29, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment mixed in thinner pre-holiday deals

    Investors cautiously optimistic ahead of the weekend

    Downbeat tone ahead of news from the US

    Markets digest FOMC meeting minutes

    Market sentiment worsens across the world

    Stocks bounce after another widespread sell-off

    Global stocks in recovery mode but still cautious

    Stocks back under pressure after short-lived relief rally

    Markets digest the inflation shock, dollar enjoys the rally

    Dollar sags as investor sentiment keeps improving

    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment mixed in thinner pre-holiday deals

    Investors cautiously optimistic ahead of the weekend

    Downbeat tone ahead of news from the US

    Markets digest FOMC meeting minutes

    Market sentiment worsens across the world

    Stocks bounce after another widespread sell-off

    Global stocks in recovery mode but still cautious

    Stocks back under pressure after short-lived relief rally

    Markets digest the inflation shock, dollar enjoys the rally

    Dollar sags as investor sentiment keeps improving

    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

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

Home » Dollar slightly lower amid profit-taking

Dollar slightly lower amid profit-taking

by Joseph Deen
November 15, 2021 05:53
in Technical analysis
0
Pound corrects higher due to dollar weakness

It looks like the common currency could slip to fresh mid-2020 lows and threaten the 1.1400 figure

EURUSD

The greenback corrects lower nearly across the market on Monday as traders take profit after a strong rally triggered by unexpectedly high inflation figures that could make the Federal Reserve start hiking interest rates earlier than anticipated. As such, the USD index started the week on a negative footing, revisiting the 95.00 region. Still, EURUSD lacks the recovery momentum to get back above the 1.1500 figure while holding just slightly off long-term lows seen around 1.1430 ahead of the weekend. The pair has settled in the 1.1450 area ahead of fresh economic data. It looks like the common currency could slip to fresh mid-2020 lows and threaten the 1.1400 figure if the dollar refrains from a deeper correction in the near term. On the upside, the immediate resistance is represented by the 1.1585 area, followed by 1.1500.

GBPUSD

The cable dipped to fresh 2021 lows around 1.3350 on Friday before bouncing back into positive territory. However, the pair struggled to extend the upside correction at the beginning of the week, changing hands marginally above the 1.2400 figure during the European hours on Monday. Earlier in the day, GBPUSD was rejected from the 1.3440 region that now represents the immediate bullish target. In a wider picture, the pound remains on the defensive, with downside risks persisting as long as the prices stay below the 1.3550 area, followed by the descending 20-DMA, today at 1.3630. On the four-hour charts, the RSI is pointing south while the prices struggle to stay above the 20-SMA, suggesting the path of least resistance remains to the downside at this point.

USDJPY

The Japanese yen remains on the defensive to start the week even as the US dollar retreats from fresh 2021 peaks seen last week. The pair peaked at 114.30 on Friday before retreating below 114.00 eventually. Today, the prices are oscillating around this level, struggling for direction during the European hours. Should USD demand reemerge anytime soon, the prices may get back above the 114.00 figure to extend the ascent to the 114.45 area, followed by the 114.70 region. The pair needs to hold above the 20-DMA (today at 113.80) in the short term in order to stay afloat and resume the advance to the mentioned highs. On the downside, the key support is expected around 112.70 where last week’s lows arrive.

XAUUSD

Gold prices advanced to five-month highs around $1,868 on Friday to see strong weekly gains. Today, the XAUUSD pair turned lower, correcting from the mentioned peaks amid slightly overbought conditions. Still, the bullion remains above the $1,850 region, suggesting the bearish potential is limited for the time being, with the overall upside trend persisting. Should demand for the yellow metal reemerge anytime soon, the prices could challenge the mentioned multi-month highs and derail the $1,870 region to target the $1,900 figure. On the downside, the immediate support is now represented by the $1,850 area, followed by the $1,830 zone and the $1,800 psychological figure. As long as the yellow metal stays above this level, the upside risks persist.

AUDUSD

The Aussie has been in recovery mode since Friday when the pair bounced off five-week lows around 0.7275. On Monday, AUDUSD advanced to the 0.7360 region, struggling to challenge a slightly descending 100-DMA, today at 0.7365. Should this moving average give up anytime soon, the 20-DMA (today at 0.7440) would come back into the market focus. For the time being, it looks like the recovery potential could stay limited despite a bullish bias in the daily RSI. On the hourly charts, the pair is stuck between the key moving averages, with the RSI holding in the overbought territory, which implies that the prices could come under selling pressure in the near term. On the downside, the immediate support arrives at 0.7325, followed by the 0.7300 figure.

Tags: AUDUSDEURUSDGBPUSDGoldUSDJPYXAUUSD
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

Dollar comes off fresh lows in volatile trading

May 27, 2022 06:55
13
Investor sentiment mixed in thinner pre-holiday deals
Fundamental analysis

Investors cautiously optimistic ahead of the weekend

May 27, 2022 04:15
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD back under pressure as market sentiment improves

May 26, 2022 06:57
15
Downbeat tone ahead of news from the US
Fundamental analysis

Markets digest FOMC meeting minutes

May 26, 2022 06:46
20
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar off one-month lows as bulls reenter the game

May 25, 2022 06:12
20
Market sentiment worsens across the world
Fundamental analysis

Stocks bounce after another widespread sell-off

May 25, 2022 04:54
21

Leave Your Opinion Cancel reply

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

Recommended

The Federal Reserve’s pledged support for exchange-traded funds may not end up costing the central bank much, but will still have the desired effect of keeping the credit market afloat.

Fed’s credit operation launched, but job already done

May 14, 2020 08:57
17
Pound corrects higher due to dollar weakness

Dollar demand strengthens ahead of the weekend

August 6, 2021 11:18
15
Markets digest dovish message from Powell

Markets digest dovish message from Powell

August 30, 2021 06:14
20

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