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

Dollar bulls unstoppable

April 26, 2022 06:01
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 » Dollar bulls unstoppable

Dollar bulls unstoppable

by Joseph Deen
April 26, 2022 06:01
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

The rallying USD sent the euro to the lowest levels since the early days of the pandemic in March 2020

EURUSD

The USD index regained the upside momentum to register fresh long-term highs around 101.96 earlier in the day before retreating marginally in recent trading. As the index climbed to the 102.00 zone, the prices could derail this immediate barrier after some short-lived hesitation. Later in the day, fresh economic data out of the US (durable goods orders, new home sales and CB consumer confidence) could add to dollar’s bullishness, thus pressuring the common currency further. As such, USD bulls sent the euro to the lowest levels since the early days of the pandemic in March 2020. EURUSD derailed the 1.0700 mark to extend losses to 1.0670 during early deals in Europe. Since then, the pair bounced partially to settle just below the 1.0700 mark while staying vulnerable to deeper losses while below the descending 20-DMA, currently at 1.0870. Should the European currency fail to hold above the mentioned lows, the 2020 low of 1.0635 will come into the market focus.

GBPUSD

GBPUSD extended the plunge on Monday to derail the 1.2700 mark for the first time since mid-2020 while staying on the defensive today. The pair refreshed the long-term low of 1.2697 before bouncing marginally, but it looks like the cable would see even deeper losses before a reversal takes place. On the downside, the next immediate support arrives around 1.2675, followed by 1.2580. On the four-hour charts, the RSI is pointing lower in the oversold territory, suggesting the pressure would persist in the near term. Adding to bearishness surrounding the cable, the pair stays well below the key moving averages. The pair was last seen changing hands around 1.2723, down 0.13% on the day. A daily close above 1.2770 would somehow ease the selling pressure but the overall technical picture stays negative while below at least the 1.3000 mark where a slightly descending 20-DMA arrives.

USDJPY

USDJPY struggles to regain the upside bias these days, albeit stays afloat, holding above the 127.00 figure so far. The pair encountered resistance at year highs seen around 129.40 last week and has been correcting slightly lower since then. After failure to hold above 128.00, the pair has settled 127.80 during the European trading hours, shedding less than 0.25% on the day. On the hourly charts, the technical picture looks neutral for the time being, suggesting USDJPY could struggle to get back above 129.00 in the near term. However, it looks like the greenback will stay afloat anyway, especially as the pair refrains from a pronounced retreat despite the extremely overbought conditions. On the downside, the immediate support now arrives at 127.35, followed by the 127.00 zone and the 126.40 figure.

XAUUSD

Gold prices struggle to attract demand after finishing below the $1,900 mark on Monday. The XAUUSD bounced marginally but continues to lack the upside impetus to see more robust gains, holding well below the 20-DMA after the recent plunge. On the downside, failure to hold above the $1,890 local support would add to bearishness surrounding the yellow metal in the near term while decisive recovery above $1,915 may pave the way towards the mentioned moving average, today at $1,940. In a wider picture, the bullion could face more intense selling pressure should the prices fail to hold above the ascending 20-week SMA, today at $1,880, followed by the 100-SMA (at $,1837). On the upside, the key intermediate resistance arrives around $1,960. As long as the prices stay below this zone, bearish risks continue to persist ahead of the Federal Reserve meeting due next week.

Tags: DollarEURUSDGBPUSDGoldUSUSDUSDJPYXAUUSD
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

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

Pound corrects higher due to dollar weakness

Greenback struggles to regain upside momentum at the start of the week

April 26, 2021 07:22
17
Stocks at all-time highs due to upbeat economic data

Stock markets look steadier but uncertainty persists

March 1, 2022 11:29
10
Markets digest strong data out of the US

Markets digest strong data out of the US

September 17, 2021 05:06
13

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