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

Dollar tries to shrug off the pressure

December 26, 2022 05:13
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
Dollar lacks upside momentum due to lower Treasury yields

Greenback extends modest recovery

November 16, 2023 07:00
  • Terms & Сonditions
  • Contact
Sunday, December 3, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    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

    Equities struggle for direction ahead of Powell’s speech

    Equities struggle for direction ahead of Powell’s speech

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

    Equities struggle for direction ahead of Powell’s speech

    Equities struggle for direction ahead of Powell’s speech

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

Home » Dollar tries to shrug off the pressure

Dollar tries to shrug off the pressure

by Joseph Deen
December 26, 2022 05:13
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

The pound finished slightly higher on Friday but stayed close to late-November lows

EURUSD

The euro advanced last week, albeit held off June highs registered around 1.0735 earlier this month. EURUSD has settled just above the 1.0600 figure, staying above the 20-DMA since early-November. The pair looks set to finish the third bullish month in a row, extending its recovery from multi-year lows seen in Autumn. For the time being, the euro is expected to stay afloat in the dominant bullish trend. Furthermore, a potential risk-on rally could send the pair to fresh multi-month highs in the near term. As such, the 1.0800 mark stays in the market focus as long as the euro holds above the 200-DMA, currently at 1.0330. However, downside risks could materialize as well, considering investor nervousness amid rising recession risks and the ongoing pandemic in China. The USD index is holding above 104.00 after a modest bounce from June lows seen around 103.45 earlier this month.

GBPUSD

The pound finished slightly higher on Friday but stayed close to late-November lows registered a day earlier just below the 1.2000 psychological level. As the pair derailed this mark, the near-term technical picture has deteriorated somehow, with the cable finishing lower for the second week in a row. In the process, GBPUSD exited the range limited by the 20- and the 200-DMAs to settle below both moving averages. The pair could see a more aggressive decline at this stage despite the dollar lacking demand across the board. Now, the pound needs to regain the 20-DMA, today at 1.2068, in order to retain a bullish tone and resume the ascent. The daily RSI looks directionless in neutral territory, suggesting the cable could refrain from both bullish and bearish extension in the near term.

USDJPY

USDJPY plunged dramatically last week to fall below the descending 20-DMA and the 200-DMA in the aftermath of the Bank of Japan meeting. The central bank announced it will modify its yield curve control band from its current plus and minus 0.25% to plus and minus 0.5%. The pair dipped from the 137.50 down to a late-July low of 130.56. Following the initial sell-off, the dollar bounced marginally to settle around 132.60 eventually. As such, the downside momentum has eased but continued to persist, with the pair holding below the 133.00 mark. In the immediate term, the greenback needs to regain this level in order to avoid another major retreat. Otherwise, the pair is likely to suffer fresh losses, with the 130.00 support zone coming into the market focus at this stage.

XAUUSD

Gold finished the week with slight gains, but failed to exit its multi-week trading range, holding around the 100-week SMA this month. After a brief jump to late-June highs around $1,825, the precious metal fell back below the $1,800 psychological level as market players opted to take some profit. Despite some retreat, the bullion retains a bullish tone, also holding above both the 200- and the 20-DMAs. The precious metal may continue to struggle for direction this week while also staying above the $1,780 mark that remains in focus for the time being. The XAUUSD pair is likely to stay above the mentioned 20-DMA in the near term, but in a wider picture, bearish risks persist despite the recent rally. On the downside, the nearest significant support now arrives at $1,780, followed by the $1,750 zone. 

Tags: EURUSDGBPUSDGoldUSDJPYXAUUSD
Share8Tweet5
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

Stocks mixed, dollar indecisive to start the new month
Fundamental analysis

Stocks mixed, dollar indecisive to start the new month

December 1, 2023 08:00
11
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

Leave Your Opinion Cancel reply

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

Recommended

A slow start to the week in FX markets

Greenback under pressure across the board

July 29, 2021 08:10
19
U.S. President Donald Trump (right) looks on Chinese President Xi Jinping during the plenary session at the G20 Summit

President Trump ‘not interested’ in speaking with Xi Jinping amid China tensions

July 15, 2020 10:17
15
Global stocks rally amid a possibility of a dividend U.S. government

Global stocks rally amid a possibility of a dividend U.S. government

November 5, 2020 04:36
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