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

Dollar on the defensive amid better risk tones

March 16, 2022 07:07
Dollar lacks upside momentum due to lower Treasury yields

USD rally pauses, gold remains steady

December 7, 2023 07:00
Investor sentiment improves further

Investor sentiment improves further

December 6, 2023 08:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar stays afloat as gold rally pauses

December 5, 2023 07:00
Stocks mixed while gold at fresh all-time highs to start the week

Stocks mixed while gold at fresh all-time highs to start the week

December 4, 2023 08:00
Stocks mixed, dollar indecisive to start the new month

Stocks mixed, dollar indecisive to start the new month

December 1, 2023 08:00
Dollar lacks upside momentum due to lower Treasury yields

USD keeps refreshing August lows

November 30, 2023 07:00
Global stocks mixed with Fed and China in focus

Global stocks mixed with Fed and China in focus

November 29, 2023 08:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar needs fresh impetus

November 28, 2023 07:00
Risk demand keeps waning in muted trading

Risk demand keeps waning in muted trading

November 27, 2023 08:00
Markets mixed in subdued holiday trading

Markets mixed in subdued holiday trading

November 24, 2023 09:01
Dollar lacks upside momentum due to lower Treasury yields

Greenback struggles to retain demand

November 23, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar attracts some demand

November 22, 2023 07:00
  • Terms & Сonditions
  • Contact
Thursday, December 7, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment improves further

    Investor sentiment improves further

    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed, dollar indecisive to start the new month

    Stocks mixed, dollar indecisive to start the new month

    Global stocks mixed with Fed and China in focus

    Global stocks mixed with Fed and China in focus

    Risk demand keeps waning in muted trading

    Risk demand keeps waning in muted trading

    Markets mixed in subdued holiday trading

    Markets mixed in subdued holiday trading

    Markets await Fed Minutes

    Markets await Fed Minutes

    Risk rally wanes ahead of the weekend

    Risk rally wanes ahead of the weekend

    Markets cautiously await US inflation data

    Markets cautiously await US inflation data

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment improves further

    Investor sentiment improves further

    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed, dollar indecisive to start the new month

    Stocks mixed, dollar indecisive to start the new month

    Global stocks mixed with Fed and China in focus

    Global stocks mixed with Fed and China in focus

    Risk demand keeps waning in muted trading

    Risk demand keeps waning in muted trading

    Markets mixed in subdued holiday trading

    Markets mixed in subdued holiday trading

    Markets await Fed Minutes

    Markets await Fed Minutes

    Risk rally wanes ahead of the weekend

    Risk rally wanes ahead of the weekend

    Markets cautiously await US inflation data

    Markets cautiously await US inflation data

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

Home » Dollar on the defensive amid better risk tones

Dollar on the defensive amid better risk tones

by Joseph Deen
March 16, 2022 07:07
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

The euro needs to overcome the 1.1000 figure on a daily closing basis in order to retarget the descending 20-DMA, currently at 1.1060

EURUSD

The dollar stays under some selling pressure versus most counterparts ahead of the outcome of the Federal Reserve meeting due later today. EURUSD keeps recovering from the 1.0900 support that capped the sell-off at the start of the week. Still, the euro struggles to regain the 1.1000 figure, lacking the upside momentum despite dollar weakness. Should the Fed’s tone come in less hawkish than expected, the pair may see a more robust ascent in a knee-jerk reaction to the event. However, the overall bearish trend remains intact as long as the prices stay below the 200-week SMA that arrives marginally below the 1.1500. On the hourly charts, the technical picture has improved as the pair is now back above the key moving averages while the RSI reversed north in the neutral territory. In the near term, the common currency needs to overcome the 1.1000 figure on a daily closing basis in order to retarget the descending 20-DMA, currently at 1.1060.

GBPUSD

GBPUSD bounced from the 1.3000 figure on Tuesday and has been retaining bullish tone since then. However, the upside momentum looks too modest at this stage to bet on more sustained recovery in the short term, with the pair holding below the 1.3100 level during the European hours on Wednesday. Furthermore, the cable stays well below the key moving averages while the daily RSI looks neutral just above the 30 figure. On the four-hour charts, GBPUSD is flirting with the 20-SMA, with the overall technical picture looking neutral at this stage. On the downside, the immediate support now arrives at 1.3045, followed by the 1.3000 critical level. Should this figure fail to withstand the pressure, the pound will target 1.2900 for the first time since November 2020. The nearest upside target arrives at 1.3090. A decisive break above 1.3100 on a daily closing basis would somehow improve the technical picture, but the overall trend will stay bearish as long as the prices hold below the 1.3700 figure last seen in September.    

USDJPY

USDJPY peaked at early-2017 highs around 118.45 and was last seen holing around the upper end of the extended trading range. The daily RSI has entered the overbought territory, suggesting the upside impetus could be limited from here. Furthermore, bearish risks may emerge as profit-taking could take place later in the day if the Fed strikes a less hawkish tone than expected. In this scenario, the pair would target the 118.00 figure, a break below which would pave the way towards yesterday’s lows around 117.70, followed by the 117.30 area. On the upside, should the mentioned tops give up, the dollar will challenge the December 2016 low of 118.86. On the hourly charts, USDJPY derives some support from a slightly ascending 20-SMA while the RSI looks directionless, painting a neutral immediate technical picture.

BTCUSD

BTCUSD has been retaining bullish bias this week along with traditional equity markets. Earlier today, the digital currency briefly exceeded the $40,000 psychological level to register nearly one-week highs around $41,700. However, the coin failed to preserve the bullish momentum and has retreated towards $40,000 in recent trading. Anyway, the fact that the most popular digital currency is entering a higher trading range suggests there is room for fresh bullish attempts at this stage. Also on the positive side, BTCUSD has settled above the 20-DMA, though is yet to confirm the latest breakout on a daily closing basis. On the weekly timeframes, BTC turned positive in recent trading but remains stuck between the 20- and 100-SMAs, currently at $46,000 and $34,000 respectively.  

Tags: BTCUSDDollarEURUSDfedFederal ReserveGBPUSDUSDJPY
Share4Tweet2
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

USD rally pauses, gold remains steady

December 7, 2023 07:00
10
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar stays afloat as gold rally pauses

December 5, 2023 07:00
11
Stocks mixed, dollar indecisive to start the new month
Fundamental analysis

Stocks mixed, dollar indecisive to start the new month

December 1, 2023 08:00
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD keeps refreshing August lows

November 30, 2023 07:00
13
Global stocks mixed with Fed and China in focus
Fundamental analysis

Global stocks mixed with Fed and China in focus

November 29, 2023 08:00
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar needs fresh impetus

November 28, 2023 07:00
13

Leave Your Opinion Cancel reply

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

Recommended

Dollar lacks upside momentum due to lower Treasury yields

Dollar extends recovery but bulls remain fairly shy

April 1, 2022 02:53
14

Watch Fed Chair Jerome Powell speak live to the Economic Club of New York

February 10, 2021 19:39
10
Stocks turn sour amid rising yields

Equities mostly higher as upbeat risk sentiment prevails

June 1, 2021 05:59
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
124
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