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

Currencies pressured by resurgent dollar

November 19, 2021 03:06
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
Saturday, May 28, 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 » Currencies pressured by resurgent dollar

Currencies pressured by resurgent dollar

by Joseph Deen
November 19, 2021 03:06
in Technical analysis
0
Pound corrects higher due to dollar weakness

The USD index looks set to finish the trading week on a strong footing

EURUSD

After two days of a modest downside correction, dollar demand has reemerged on Friday. The USD index looks set to finish the trading week on a strong footing. Against this backdrop, the euro came under renewed selling pressure to erase yesterday’s gains early in Europe. The pair is back targeting the 1.1300 figure, also pressured by dovish comments from ECB’s Lagarde. However, should this level withstand the current pressure, the pair may see a bounce in the short term. As of writing, the common currency was changing hands around 1.1320, down 0.43% on the day. On the upside, the immediate resistance arrives in the 1.1375-1.1385 area, followed by the 1.1400 figure. The daily RSI is flirting with the 30 figure, suggesting the pair could see deeper losses before a reversal takes place. The overall trend remains bearish.

GBPUSD

The cable came under the downside pressure following three days of gains. The pair failed to settle above the 1.3500 figure amid the resurgent demand for the greenback despite risk sentiment has improved somehow in the global financial markets ahead of the weekend. Now, GBPUSD needs to hold above the 1.3430 area in order to avoid a deeper retreat under 1.3400. However, bearish risks persist as long as the prices stay below the descending 20-DMA, currently at 1.3560. Earlier this month, the pound was strongly rejected from this moving average, suggesting the pair would need a significant driver to make a decisive break above the barrier. In a wider picture, the outlook keeps worsening despite the cable looks set to finish the week with marginal gains.

USDJPY

USDJPY managed to hold above the 20-DMA and saw a bounce that took the prices back above the 114.00 figure. On Friday, the dollar retains a bullish bias, flirting with the 114.50 intermediate barrier during the European hours. A break above this zone on a daily closing basis would pave the way towards March 2017 highs seen earlier this week just below the 115.00 figure. On the downside, the greenback needs to hold above 114.00 while the key support is represented by the mentioned moving average, currently at 113.90. On the hourly charts, USDJPY stays above the key SMAs while the RSI turned directionless in neutral territory, suggesting the upside potential could be limited in the immediate term.

BTCUSD

Bitcoin prices have been losing ground for the sixth day in a row on Friday. Earlier in the week, the digital coin failed to hold above the 20-DMA, and the selling pressure has intensified since then. Today, the cryptocurrency fell to the $55,600 area for the first time since mid-October. However, the prices managed to stage a bounce and climbed back above the $57,000 figure in recent trading, trading just below the flat-line. Of note, the daily RSI is pointing lower but hasn’t entered oversold territory just yet, suggesting there is scope for further downside in the near term. In this context, the ascending 100-DMA is in the market focus for the time being. This moving average, currently around $53,000, could attract buying pressure and trigger a bounce. As a reminder, bitcoin derived support from this SMA in late September to extend gains to the mentioned all-time tops eventually.

USDCAD

USDCAD briefly jumped to early-October highs around 1.2645 on Thursday but failed to preserve gains and corrected lower amid profit-taking. The pair finished just below the 1.2600 figure, but as dollar demand has reemerged, the prices turned positive on Friday. USDCAD is back targeting the mentioned highs and was last seen changing hands around 1.2625, up 0.20% on the day. In a wider picture, the technical outlook keeps improving, with the pair looking set to finish the fourth consecutive week with gains. Furthermore, the prices are now above the 20-week SMA, adding to a bullish picture on the weekly timeframes. In the immediate term, however, the pair could see a local retreat if traders opt to take some profit ahead of the weekend.

Tags: BITCOINBTCUSDEURUSDGBPUSDUSDCADUSDJPY
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

Global stocks steady while dollar keeps losing ground

Global stocks steady while dollar keeps losing ground

April 7, 2021 04:43
14
Stocks under pressure amid profit-taking

Stocks surge despite rising infections

December 28, 2021 00:13
11
Pound corrects higher due to dollar weakness

No reprieve for the dollar, pound targets 1.4000

February 16, 2021 06:21
14

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