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

Dollar licks wounds after profit-taking

October 14, 2022 05:21
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 licks wounds after profit-taking

Dollar licks wounds after profit-taking

by Joseph Deen
October 14, 2022 05:21
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields


Gold struggles to attract sustained demand despite a weaker USD

EURUSD

The USD index peaked at 113.90 before plunging on Thursday amid a broad sell-off despite stronger-than-expected US CPI data. The DXY slipped to the 112.15 area, staying on the defensive on Friday. As a result, the greenback turned negative on the weekly charts as traders opted to take some profit after another rally. As such, the EURUSD pair rallied from 0.9630 to regain the 0.9700 mark. The shared currency advanced to the 0.9800 area on Friday and was last seen flirting with the 20-DMA, today at 0.9790. Despite the bounce, the pair failed to regain parity during the latest rally. The European currency is unlikely to make a decisive break above the 1.00 handle any time soon, with downside risks persisting for the time being, especially as the prices struggle to regain the 20-DMA even as the USD demand has ebbed. The immediate support now arrives around 0.9735, followed by the 0.9700 mark.

GBPUSD

The cable briefly jumped to 1.1280 before retreating marginally on Thursday. Still, the pair finished with solid gains, trying to preserve the upside bias ahead of the weekend. The pair has settled above 1.1300 since then, struggling for direction on Friday as the selling pressure surrounding the US dollar has eased. The pair is trying to stage recovery after five bearish sessions in a row, but the upside potential looks still limited. Earlier this month, the rally for the pair was capped by the 1.1500 figure, pushing the prices back below 1.1000. On the positive side, however, GBPUSD exceeded the 20-DMA during the recent rally and now needs to stay afloat. GBPUSD was last seen flirting with the 1.1330 figure, adding less than 0.1% on the day. Should the prices fail to stay above 1.1300 in the near term, the pair could retest the mentioned the mentioned moving average, today at 1.1144.

USDJPY

USDJPY has been rallying for the eighth session in a row on Friday. The pair exceeded the 147.00 figure for the first time in more than 30 years to extend the ascent to the 147.66 zone. The dollar was last seen changing hands around 147.40, up 0.12% on the day. The fact that the prices keep clinging to the upper end of the extended trading range suggests the greenback could extend the ascent despite overbought conditions. As such, the dollar continues to hold steady after the recent jump and could target fresh long-term highs in the near term. Now, USDJPY needs to confirm a break above 147.00 on a daily and weekly closing basis and refrain from a major retreat amid overbought conditions. On the downside, the immediate support now arrives at 147.00, followed by the 146.40 figure. On the four-hour timeframes, the RSI stays resilient in overbought territory, with the overall technical picture looking strongly bullish.

XAUUSD

Gold prices briefly dipped from $1,680 to touch fresh October lows around $1,642 during the volatile session on Thursday. The XAUUSD pair finished in the $1,665 area to turn slightly positive on Friday. Still, the precious metal struggles to regain the 20-DMA that has been in the market focus this month. The bullion was last seen changing hands just below $1,670, flirting with the mentioned moving average. On the four-hour timeframes, gold is also stuck between the key SMAs, struggling for direction after a brief plunge. In a wider picture, the yellow metal stays depressed, losing ground for the seventh month in a row while also holding just slightly above April 2020 lows seen last month around $1,614. A failure to hold above the $1,700 psychological level confirms the dominating selling pressure surrounding gold.

Tags: DollarEURUSDGBPUSDGoldUSUSDUSDJPYXAUUSD
Share3Tweet2
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

Euro struggles below three-month highs, yen demand persists

Euro corrects lower after a four-day rally

March 27, 2020 10:56
26
Cautious optimism prevails in global financial markets

Global markets slump as investors digest hawkish Fed hike

September 22, 2022 05:05
19

Assessment of ASX Clearing and Settlement Facilities – October 2020

October 1, 2020 14:45
11

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