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

Dollar came off tops, but stays elevated

May 2, 2022 11:04
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
Dollar lacks upside momentum due to lower Treasury yields

Major currencies struggle below key SMAs

May 19, 2022 06:02
Geopolitical tensions ease but risks persist

Global stock rout continues on growth fears

May 19, 2022 05:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar regains ground after a three-day sell-off

May 18, 2022 06:09
Chinese data spooks investors, sentiment turns sour

Stock markets turn directionless after a bounce

May 18, 2022 05:08
Dollar lacks upside momentum due to lower Treasury yields

Currencies enjoy a bounce amid a weaker USD

May 17, 2022 06:51
Sentiment turns sour, dollar steadies ahead of the weekend

USD gives up gains as risk sentiment improves further

May 17, 2022 04:52
  • Terms & Сonditions
  • Contact
Wednesday, May 25, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    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

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

    Dollar at fresh highs while stock markets keep bleeding

    Stocks continue to give up gains ahead of US jobs data

    Stocks bounce ahead of US inflation report

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

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

    Dollar at fresh highs while stock markets keep bleeding

    Stocks continue to give up gains ahead of US jobs data

    Stocks bounce ahead of US inflation report

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

Home » Dollar came off tops, but stays elevated

Dollar came off tops, but stays elevated

by Joseph Deen
May 2, 2022 11:04
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

As USDJPY refrains from a more pronounced bearish correction, it looks like the buck could resume the ascent to retest the 131.00 barrier 

EURUSD

The dollar looks resilient after some downside correction amid profit-taking on Friday. The USD index is holding above the 103.00 figure, adding 0.37% on the day as risk-off tone has abated but continues to persist across the markets. Also, traders shift focus to the Fed’s meeting that could add to dollar’s strength this week. In the immediate term, the USD index needs to regain the 103.50 local barrier in order to challenge long-term highs around the 104.00 figure that capped the rally last week. On the downside, the nearest support is expected at 103.00, followed by the 102.80 zone where last week’s lows arrive. EURUSD failed to regain the 1.0600 mark on Friday to come under renewed selling pressure that has been capped by 1.0510 today. The pair was sitting around 1.0520 during the European hours, shedding 0.18% on the day.

GBPUSD

GBPUSD bounced off fresh mid-2020 lows on Friday to regain the 1.2500 figure on a weekly closing basis. However, as the pair was rejected from 1.2600, the cable failed to stage a more robust recovery, struggling to extend the ascent on Monday. The pound is clinging to the upper limit of the Friday’s range but lacks the momentum to extend recovery, suggesting the prices could dip towards fresh long-term lows after some hesitation. On the four-hour charts, the technical picture looks neutral for the time being, as the prices are holding just above the 20-SMA while the RSI is directionless around 45. On the upside, the key immediate target arrives at 1.2615, followed by the 1.2690 zone. Both in the short- and medium term, risks for the pair remain skewed to the downside for the time being, which implies that the prices could derail the 1.2400 mark to notch fresh long-term lows in the coming days.

USDJPY

USDJPY briefly peaked above 131.00 last week to finish slightly below the 130.00 figure on Friday. The dollar struggles for direction at the start of the week, sitting around 129.85 during the European hours. As the pair refrains from a more pronounced bearish correction at this stage, it looks like the buck could resume the ascent to retest the 131.00 barrier in the coming days, especially as the Federal Reserve is expected to deliver a hawkish rate hike while the Bank of Japan plans to keep interest rates low despite rising inflation. On the hourly timeframes, however, the technical picture has deteriorated somehow in recent trading as the prices fell back below the 20-SMA while the RSI looks directionless in neutral territory. In a wider picture, USDJPY stays resilient despite the overbought conditions, targeting fresh twenty-year highs around 132.00.

XAUUSD

Gold prices are back under pressure following a short-lived bounce witnessed ahead of the weekend. The precious metal briefly advanced to the $1,920 zone that capped recovery attempts and sent the prices back below the $1,900 figure on Friday. Today, the XAUUSD pair extended losses to $1,876 and was last seen flirting a slightly ascending 100-DMA that arrives around the mentioned lows. Should the yellow metal settle below this moving average on a daily closing basis, the near-tern technical picture would deteriorate further. On the upside, a decisive bounce above $1,900 would help ease some selling pressure surrounding the bullion. However, it looks like gold prices could see deeper losses in the coming days before a reversal takes place to send the prices back above the 20-DMA (currently at $1,933) eventually.

Tags: DollarEURUSDfedFederal ReserveGBPUSDGoldUSDUSDJPYXAUUSD
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

Greenback trims losses, but stays offered nearly across the board

May 24, 2022 06:12
12
Global stocks in recovery mode but still cautious
Fundamental analysis

Stocks back under pressure after short-lived relief rally

May 24, 2022 04:42
15
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar keeps bleeding as bearish correction continues

May 23, 2022 06:27
12
Markets digest the inflation shock, dollar enjoys the rally
Fundamental analysis

Dollar sags as investor sentiment keeps improving

May 23, 2022 05:09
15
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD treads water after plunge, markets steady ahead of the weekend

May 20, 2022 06:21
13
Investor sentiment looks neutral at the start of the week
Fundamental analysis

Modest bounce after sell-off ahead of the weekend

May 20, 2022 04:51
15

Leave Your Opinion Cancel reply

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

Recommended

Pound corrects higher due to dollar weakness

Dollar bounces from lows, focus on FOMC

September 16, 2020 09:59
17
A slow start to the week in FX markets

Dollar holds onto gains, clinging to fresh highs

September 30, 2021 11:00
19
China sanctions and new lockdowns weighing on global markets

China sanctions and new lockdowns weighing on global markets

March 23, 2021 06:59
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 © 2020 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2020 FWNews