• Latest
  • Trending
  • All
Dollar lacks upside momentum due to lower Treasury yields

Greenback lacks recovery momentum

January 14, 2022 23:20
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
Friday, January 27, 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 » Greenback lacks recovery momentum

Greenback lacks recovery momentum

by Joseph Deen
January 14, 2022 23:20
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

Risk sentiment keeps deteriorating, somehow capping the downside pressure surrounding the safe-haven dollar

EURUSD

The dollar has been on the defensive for the fourth day in a row on Friday. The USD index dipped to the 94.60 area for the first time in two months before bouncing slightly in recent trading as risk sentiment keeps deteriorating, somehow capping the downside pressure surrounding the greenback. Against this backdrop, EURUSD notched fresh two-month highs in the 1.1480 area and retreated to the 1.1460 zone in recent trading. It looks like traders were deterred by the 1.1500 psychological barrier, followed by the descending 100-DMA. The last time the pair traded around this moving average was in mid-2021, so a decisive break above it would be a strong bullish signal from the technical point of view. In the medium term, the buck will likely regain ground due to the Fed’s hawkishness.

GBPUSD

The cable has been retaining a bullish bias since Monday, extending gains beyond the 200-DMA that was derailed for the first time since mid-September. Still, after peaking around 1.3750 on Thursday, the pound seems to be losing the upside steam, treading water below the mentioned moving average during the European hours on Friday. On the downside, the immediate support now arrives at 1.3700, followed by the 1.3660 area. Of note, the daily RSI has already entered the overbought territory, suggesting a bearish correction could be expected in the near term. On the weekly timeframes, the pound has been rising for the fourth week in a row, accelerating the bullish momentum following a decisive break above the 20-week SMA, currently at 1.3555. 

USDJPY

USDJPY keeps bleeding since the start of the month, retreating further from five-year highs. The pair extended losses to December 21 lows around 113.60 earlier on Friday before correcting marginally in recent trading. The dollar was last seen changing hands just below the 114.00 figure, still down 0.22% on the day. Should the selling pressure intensify anytime soon, the prices would target the 113.30 area while a break below 113.10 could bring even deeper losses in the coming days. However, it looks like the greenback will stage a bounce from the oversold territory in the near term. On the hourly charts, the prices were last seen trending towards the descending 20-SMA, pointing to some improvement in the immediate technical outlook.  In a wider picture, USDJPY remains within a broader uptrend, correcting marginally from the five-year highs seen last week.

BTCUSD 

BTCUSD encountered resistance around $44,500 on Thursday and came back under pressure as the coin lacked the momentum to overcome this immediate barrier. Today, the BTCUSD pair has settled below the $43,000 figure, struggling for direction after another local sell-off. It looks like the largest cryptocurrency by market capitalization will stay vulnerable to deeper losses as long as the prices hold below the $50,000 psychological level. On the downside, the immediate support arrives at $41,500, followed by nearly four-month lows seen just below the $40,000 figure at the start of the week. In a wider picture, bitcoin could finish the week slightly higher if the prices manage to hold above the $41,700 area during the weekend. 

USDCHF 

USDCHF plunged to early-November lows around 0.9000 before bouncing to the 0.9100 area in recent trading, suggesting the pair could stage a broader recovery from the technical support. During this week’s sell-off, the dollar has got back below the key moving averages while the RSI hasn’t entered the oversold territory to turn directionless today, pointing to a mixed short-term technical picture. Should the downside pressure ease further, the pair could target the 0.9140 zone, followed by the 200-DMA around 0.9160. On the four-hour timeframes, USDCHF seems to be steadying as well, suggesting the downside potential could be limited at this point. 

Tags: BTCUSDDollarEURUSDfedGBPUSDUSDUSDCHFUSDJPY
Share2Tweet1
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
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
Risk demand reemerges cautiously, but caution remains in place
Fundamental analysis

Risk demand reemerges cautiously, but caution remains in place

December 21, 2022 08:49
14

Leave Your Opinion Cancel reply

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

Recommended

Fed’s Harker says inflation won’t be posing a threat anytime soon

February 11, 2021 19:39
10

Fed’s Mester doesn’t see policy changes coming from GameStop saga

February 4, 2021 19:40
10
Investors cautious amid virus-related uncertainty

Investors cautious amid virus-related uncertainty

August 10, 2021 11:43
19

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