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

Greenback slightly higher in a range

December 27, 2021 00:18
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
Saturday, April 1, 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 slightly higher in a range

Greenback slightly higher in a range

by Joseph Deen
December 27, 2021 00:18
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

The euro keeps clinging to the 1.1300 figure where the 20-DMA arrives

EURUSD

Following a quiet start to the day and the final week of this year, dollar demand has picked up somehow during the European hours as risk sentiment deteriorated amid the resurgent concerns surrounding the Omicron coronavirus variant. As such, the safe-haven USD index surged to the 96.15 area, up 0.15% on the day. EURUSD keeps facing resistance around 1.1340. The pair dipped to the flat-line just above 1.1300 in recent trading before bouncing towards 1.1320. The common currency derives support from the 20-DMA, currently at 1.1300. Should the prices fail to hold above this figure in the short term, the pair may challenge the 1.1290 region amid a stronger dollar. However, it looks like EURUSD will continue to tread water in a tight range so far.

GBPUSD

The pound keeps oscillating around the 1.3400 figure, lacking the upside momentum to make a decisive break above this immediate barrier. The pair climbed to intraday highs in the 1.3420 area that capped the bullish attempts late last week. On the downside, the immediate support arrives at 1.3340, followed by 1.3300 figure and the 20-DMA, currently at 1.3277. Now, the 1.3400 figure remains in the market focus and it looks like the prices will continue to consolidate around this level in thin trading conditions as traders leave the market for holidays. In the immediate term, fresh bullish attempts around the mentioned local highs could bring another rejection to 1.3400 or even lower levels.

USDJPY

USDJPY rallied to one-month highs around 114.70 and was last seen clinging to the upper end of the extended intraday range. Should this barrier give up anytime soon, the 115.00 figure will come into the market focus. However, the pair could struggle to extend the ascent due to low trading volumes during a pre-holiday week. On the downside, the nearest support arrives at 114.30, followed by the 114.00 figure and the 20-DMA, currently at 113.65. it looks like the prices would hold above this moving average this week, with upside risks dominating for the time being. On the hourly charts, however, there are some bearish signals as the RSI is reversing lower while the dollar was last seen slipping from the mentioned peaks that stand on the way towards the 115.00 barrier, followed by multi-year highs around 115.50.

XAUUSD

Gold prices peaked at $1,811 earlier on Monday but failed to preserve upside momentum and retreated to the flat-line during the European hours as dollar bulls reentered the game. Still, as long as the precious metal holds above the $1,800 psychological level, downside risks stay limited while the overall technical picture looks neutral. The XAUUSD pair needs to overcome December highs around $1,815 to see more solid gains in the coming weeks. However, it looks like the bullion would stay below this hurdle, strengthened by the ascending 20-week SMA. On the downside, a break below $1,800 would pave the way towards the 200-DMA, currently at $1,796. Should this moving average give up, the short-term technical outlook would deteriorate.

USDCHF

USDCHF bounced from the 200-DMA and climbed back to the 0.9200 level before retreating slightly in recent trading. It looks like the pair would lack the bullish momentum to overcome this barrier on a daily closing basis. Furthermore, there is a strong barrier around 0.9210 where the 20- and 100-DMAs converge. To finish the month in the green, the dollar needs just to settle at 0.9200. On the four-hour charts, the prices are edging lower, with the RSI reversing south, suggesting the pair could reenter the negative territory should the 200-DMA, currently at 0.9175, give up anytime soon. In other words, the path of least resistance is to the downside now despite the bullish bias persisting on the daily timeframes for the time being. 

Tags: DollarEURUSDGBPUSDGoldUSDUSDCHFUSDJPYXAUUSD
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
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

Sentiment turns sour, dollar steadies ahead of the weekend

USD gives up gains as risk sentiment improves further

May 17, 2022 04:52
16
Stocks mostly lower despite upbeat economic data

Markets failed to extend the bounce, back under pressure

May 16, 2022 04:38
18
Global stocks steady, USD remains under pressure

Global stocks steady, USD remains under pressure

August 18, 2020 10:18
12

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