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

Dollar off tops but resilient

May 16, 2022 05:44
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
Tuesday, March 28, 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 off tops but resilient

Dollar off tops but resilient

by Joseph Deen
May 16, 2022 05:44
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

USDJPY retains a modest bullish bias at the start of the week after a bounce from this month’s lows seen around 127.50

EURUSD

The USD index stays resilient just below twenty-year highs seen around the 105.00 figure last week. The buck continues to cling to the upper end of the extended trading range as risk-on tone abated at the start of the week. The immediate support now arrives at 104.40, followed by the 104.00 mark. EURUSD has settled slightly above the 1.0400 figure during the early European deals, but it looks likely the common currency will struggle to overcome the 1.0530 nearest upside target at this stage. The euro may get back below 1.0400 in the short term if investor sentiment keeps deteriorating further. The pair was last seen changing hands around 1.0423, up 0.12% on the day. On the four-hour charts, the prices are holding just below the descending 20-SMA that represents the immediate barrier for the European currency. A daily close above this moving average would help ease the selling pressure somehow.

GBPUSD

GBPUSD struggled for direction on Monday after a slight bounce witnessed ahead of the weekend. The pair has settled around the 1.2220 flat-line following rejection from the 1.2300 mark earlier in the day. As such, the cable continues to hold around two-year lows and could fall further should USD demand reemerge anytime soon. On the downside, the immediate support now arrives at 1.2200, followed by the lowest level since May 2020 that capped the selling pressure around 1.2155 last week. If this zone gives up in the coming says, GBPUSD could derail the 1.2100 mark. On the shorter-term timeframes, the technical picture looks neutral-to-bearish, with the pound flirting with 20-DMAs that have been capping bullish attempts so far. In a wider picture, downside risks persist as long as the pair stays below.

USDJPY

USDJPY retains a modest bullish bias at the start of the week after Friday’s bounce from this month’s lows seen around 127.50. The pair regained the 129.00 figure, with the 129.60 zone capping more robust gains at this stage. The dollar is targeting the 130.00 mark again, but the upside pressure seems to be too modest so far, with downside risks persisting while below this level. USDJPY was last seen flirting with the 20-DMA that could cap more robust gains in the near term. The immediate support now arrives at 128.70, followed by 128.20 and the 127.50 zone that capped losses last week. The overall bullish trend remains intact, however, suggesting the greenback could refresh multi-year highs beyond 131.35. On the hourly charts, the pair is stuck between the key moving averages while the RSI looks directionless around 57.00, painting a neutral near-term technical picture.

BTCUSD

Following a bounce om Sunday, the BTCUSD pair extended gains to $31,400 earlier today but failed to preserve gains and retreated eventually as sellers reemerged. As a result, the most popular cryptocurrency fell back below the $30,000 mark, erasing yesterday’s gains.  Now, the coin needs to hold above $29,000 in order to avoid deeper losses towards late-2020 lows seen last week around $25,200. Should the selling pressure intensify in the near term, BTCUSD may get back under $28,000. The technical picture on the daily charts looks bearish at this stage, with RSI pointing lower but hasn’t entered the oversold territory just yet, suggesting the digital currency could continue to struggle in the near term, especially as the prices are holding below the $30,000 psychological level that represents the immediate upside target for BTC.

Tags: BTCUSDDollarEURUSDGBPUSDUSDUSDJPY
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

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

Here’s what changed in the new Fed statement

September 16, 2020 14:31
10
Dollar lacks upside momentum due to lower Treasury yields

Dollar starts the week on positive footing

December 13, 2021 01:29
11
Investors sentiment mixed ahead of the weekend

Markets stabilize after a rout, Omicron in focus

November 29, 2021 00:28
10

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