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

Dollar in consolidation mode, bullish bias persists

September 15, 2022 07:50
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
Markets await Fed Minutes

Markets await Fed Minutes

November 21, 2023 08:00
Dollar lacks upside momentum due to lower Treasury yields

USD retains bearish bias to start the week

November 20, 2023 07:00
Risk rally wanes ahead of the weekend

Risk rally wanes ahead of the weekend

November 17, 2023 07:00
  • Terms & Сonditions
  • Contact
Monday, December 4, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    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

    Powell triggered risk aversion across markets

    Powell triggered risk aversion across markets

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

    Powell triggered risk aversion across markets

    Powell triggered risk aversion across markets

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

Home » Dollar in consolidation mode, bullish bias persists

Dollar in consolidation mode, bullish bias persists

by Joseph Deen
September 15, 2022 07:50
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

The USD index needs to regain the 110.00 mark in order to resume the rally

EURUSD

The US dollar is back on the offensive after a modest retreat seen on Wednesday. The USD index bounced off the 109.30 zone to settle marginally below the 110.00 level that represents the immediate upside target for bulls at this stage. The greenback was last seen changing hands around 109.77, up 0.1% on the day. As such, EURUSD struggles to get back above the descending 20-DMA, holding below parity on Thursday after a strong rejection from the 1.0200 figure at the start of the week. The pair is likely to stay pressured in the short term. On the four-hour charts, the shared currency stays below the key simple moving averages while the RSI looks directionless, suggesting the pair could struggle to regain parity in the immediate term. On the downside, the nearest support now arrives at 0.9955. The downside potential looks limited while above this zone.

GBPUSD

GBPUSD plunged back below 1.1500 after another failed attempt to overcome the descending 20-DMA earlier in the week. On Wednesday, the pair bounced to finish around 1.1540 after rejection from the 1.1590 region. During the recovery, the cable failed to derail the descending 20-DMA. On Thursday, the pound struggles around 1.1530, losing less than 0.1% on the day. In the near term, GBPUSD needs to hold above 1.1500 on a daily closing basis in order to avoid another retreat. Otherwise, the pair may fall back below 1.1480 and threaten the 1.1400 mark eventually. On the upside, should the cable resume its recovery, the next target could be expected around 1.1585, followed by the 1.1620 zone and the mentioned moving average, today at 1.1635, and the 1.1700 psychological level. 

USDJPY

USDJPY came under pressure on Wednesday following two days of gains. The dollar managed to refresh local highs just below the 145.00 mark before turning negative on the daily charts. The pair failed to preserve the upside bias and came under downside pressure, albeit finished above 143.00. Today, the greenback resumed the ascent, but lacked the upside momentum to climb back to the mentioned highs. USDJPY was last seen changing hands 143.40, adding less than 0.2% on the day. In a wider picture, the pair keeps holding well above the ascending 20-DMA, today at 140.34. In the near term, USDJPY needs to hold above the 143.00 mark for a broader bullish momentum to persist. Should the buying pressure surrounding the US dollar reemerge, a decisive rally above 145.00 would bring fresh long-term tops into the market focus.

BTCUSD

The bitcoin price advanced towards $22,700 earlier in the week but failed to extend the ascent as the crypto market plunged in the aftermath of the US inflation report. The BTCUSD pair fell nearly 10% to find a local bottom around $19,600 before steadying. The price of bitcoin bounced slightly to add 0.25% yesterday. However, the largest cryptocurrency by market capitalization still lacks the momentum to stage a sustained and steady recovery, oscillating around the $20,000 psychological level on Thursday. As indicators show, sellers keep dominating the market at this stage, with bearish risks persisting in the near term. Should the price fail to exceed the $20,500 zone on a daily closing basis, another sell-off could be expected. A failure to hold above $20,000 in the coming days would pave the way towards the $19,600-19,500 zone.

Tags: BITCOINBTCUSDDollarEURUSDGBPUSDUSUSDUSDJPY
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 keeps refreshing August lows

November 30, 2023 07:00
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar needs fresh impetus

November 28, 2023 07:00
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback struggles to retain demand

November 23, 2023 07:00
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar attracts some demand

November 22, 2023 07:00
14
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD retains bearish bias to start the week

November 20, 2023 07:00
12
Risk rally wanes ahead of the weekend
Fundamental analysis

Risk rally wanes ahead of the weekend

November 17, 2023 07:00
12

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

Currencies relatively steady to start the week

October 23, 2023 07:00
15
Stocks mixed, dollar stable ahead of the FOMC decision

Stocks mixed, dollar stable ahead of the FOMC decision

September 16, 2020 04:26
16
Global stocks mixed with Fed and China in focus

Global stocks mixed with Fed and China in focus

November 29, 2023 08:00
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
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