• Latest
  • Trending
  • All
Tech analysis

Midweek tech review

February 19, 2020 15:10
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 » Midweek tech review

Midweek tech review

by Joseph Deen
February 19, 2020 15:10
in Technical analysis
0
Tech analysis

EURUSD 

EURUSD printed new April 2017 lows around 1.0780 and struggles to regain the 1.08 handle. The modest recovery attempts in extreme oversold conditions are seen by traders as selling opportunities, suggesting further losses may lie ahead in the near term. Furthermore, the 50-SMA is about to make a bearish cross with the 100-SMA in the daily timeframes, which is another negative sign amid a broad-based dollar strength. So, as the selling pressure persists, there is a scope for a dip towards 1.07. On the upside, the immediate resistance arrives at 1.0815 and then around 1.0840.


GBPUSD 

The cable remains stuck in a range limited by the 50- and 100-DMAs over the past two weeks. The bearish bias prevails for a third consecutive day, since the pair failed to challenge the 1.3070 local resistance late last week. On Wednesday, GBPUSD struggles to regain the 1.30 handle, with the pair looking directionless as long as the prices have been oscillating around the psychological mark. Daily RSI is flat below 50 following a rejection from 52. In the hourly timeframes, the technical picture looks more bearish, however the sellers may wait for a sustained weakness below 1.2970 before positioning for further depreciation. 

USDJPY 

Following three days of consolidation marginally below 110.00, the dollar jumped north on Wednesday. The local rally has accelerated on a break above this important level, and the prices extended gains to May 2019 highs around 110.60, remaining bullish in the short term. In the 4-hour charts, the prices had been following the 20-SMA which is lagging behind the pair after a brief spike. RSI is now pointing to overbought conditions, so the greenback is yet to confirm the breakout. Should the upside momentum persist in the near term, the pair may target 111.00. 

USDCHF

USDCHF extending gains since early February, having climbed to 0.9840 for the first time this year earlier in the day. However, the rally lacked any strong follow-through, and the pair has retreated since then. The prices turned nearly flat but still preserve a mild upside bias. On the upside, there is a strong resistance in the form of the 200-DMA that may scare off the bulls. It is possible that the dollar will see a limited downside correction before the buyers reenter the game at more attractive levels. In the weekly timeframes, the USDCHF pair has encountered the 200-SMA as well, suggesting a retreat may lie ahead. 

NZDUSD

NZDUSD has been making shallow recovery attempts following four days of decent losses. The pair received support around 0.6380 and remains below the 0.64 handle which stands as the nearest resistance now. Despite the current upside bias, the kiwi is still vulnerable to further declines, at least as long as the pair remains below the key MAs both in the hourly and daily timeframes. Once below 0.6380, NZDUSD will target mid-November lows around 0.6360.

Tags: EURUSDGBPUSDUSDCHFUSDJPY
Share5Tweet3
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
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback extends modest recovery

November 16, 2023 07:00
13

Leave Your Opinion Cancel reply

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

Recommended

Inflation data hits global stocks

Sentiment turns more upbeat ahead of the weekend

November 12, 2021 04:27
15
Euro struggles below three-month highs, yen demand persists

Greenback mostly lower to start the week

June 22, 2020 09:24
14
Stocks mixed, dollar relatively steady after a sell-off

Stocks mixed, dollar relatively steady after a sell-off

November 6, 2020 04:08
14

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