• Latest
  • Trending
  • All
Euro struggles below three-month highs, yen demand persists

Currencies look indecisive, still stuck in ranges

April 20, 2020 10:03
Equity markets mostly depressed

Equity markets mostly depressed

September 22, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar receives fresh impetus from Fed

September 21, 2023 07:01
Dollar lacks upside momentum due to lower Treasury yields

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
Stock markets directionless as Fed meeting looms

Stock markets directionless as Fed meeting looms

September 19, 2023 07:03
Dollar lacks upside momentum due to lower Treasury yields

Dollar under some pressure after the weekend

September 18, 2023 07:00
Economic data and ECB boost stock market rally

Economic data and ECB boost stock market rally

September 15, 2023 07:57
Dollar lacks upside momentum due to lower Treasury yields

USD hesitates below the 105.00 barrier

September 14, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

USD steady and resilient in anticipation of US CPI

September 13, 2023 07:15
Stock markets struggle for direction ahead of major events

Stock markets struggle for direction ahead of major events

September 12, 2023 07:19
Dollar lacks upside momentum due to lower Treasury yields

Dollar rally pauses to start the week

September 11, 2023 06:46
Risk sentiment improves somewhat after a streak of losses

Risk sentiment improves somewhat after a streak of losses

September 8, 2023 07:08
Dollar lacks upside momentum due to lower Treasury yields

Unabated dollar demand keeps pressuring gold

September 7, 2023 07:26
  • Terms & Сonditions
  • Contact
Friday, September 22, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equity markets mostly depressed

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

    Powell and China fuel stock market rally

    Powell and China fuel stock market rally

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

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

    Powell and China fuel stock market rally

    Powell and China fuel stock market rally

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

Home » Currencies look indecisive, still stuck in ranges

Currencies look indecisive, still stuck in ranges

The euro needs to regain the 1.09 handle in order to avoid deeper losses

by Joseph Deen
April 20, 2020 10:03
in Technical analysis
0
Euro struggles below three-month highs, yen demand persists

EURUSD
EURUSD struggled for a clear direction earlier in the day. Bullish attempts have waned around the 1.09 handle, and the pair turned negative in the daily charts. Despite a negative bias, the common currency continues to trade within a limited range, with the directionless daily RSI suggesting the consolidation will continue for some time. As such, the key moving averages continue to act as resistance levels, and the euro remains bearish as long as the prices stay below the 200-DMA that now comes at 1.1050. In the four-hour charts, the technical picture looks negative as well. In the short term, EURUSD needs to regain the 1.09 handle in order to avoid deeper losses. 

GBPUSD
GBPUSD remains below the 50-DMA that turned into resistance last week. Since then, the pound struggles to regain the upside momentum and is back under the selling pressure after a short-term recovery witnessed on Friday. The pair was rejected from the 1.25 handle earlier in the day and dipped to local lows around 1.2415. Despite the prevailing selling pressure, the downside potential in the pair remains limited as long as it stays above 1.24. Once below this level, cable may probe the 1.2270 area. On the upside, GBPUSD could regain ground after a decisive break above the mentioned moving average around 1.2540. 

USDJPY
USDJPY has been trading marginally higher on Monday but still struggles to recover above the 108.00 figure. The pair finished lower last week, and it looks like the selling pressure will persist for the time being, and the dollar will fail to get back above the resistance levels in the form of the key moving averages. The daily RSI remains neutral, suggesting the pair will stay in a consolidation mode for some time before the dollar decides on a clear direction. In the hourly timeframes, USDJPY is stuck between the 200- and 100-SMAs that are acting as a short-term resistance and support levels, respectively. 

EURJPY
The cross has been making recovery attempts following three days of losses in a row. The pair climbed back above 117.00 but is yet to confirm a breakout on a daily closing basis. Otherwise, the selling pressure may reemerge and send the euro to the 116.60-116.50 area. So far, the technical picture on the daily timeframes points to the upside, with the daily RSI pointing slightly north. In the four-hour charts, there are also some tentative signs of bullishness but the recovery momentum is too slow and modest to bet on more robust gains, at least in the short term. 

USDCHF 
USDCHF continues to cling to the 50-DMA since last week. Now, this moving average acts as the immediate support around 0.9665 while the intraday low arrives at 0.9654. As such, there is a risk of a break below the 0.9650 region. If so, the 0.95 handle will come into bears’ focus again. Should the dollar manage to hold at least around the current levels, the prices may retarget the 0.97 level and regain the 200-DMA as a result. In the weekly charts, the pair looks neutral amid some stabilization following wild swings witnessed last month. 

Tags: EURJPYEURUSDGBPUSDUSDCHFUSDJPY
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

Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar receives fresh impetus from Fed

September 21, 2023 07:01
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
14
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar under some pressure after the weekend

September 18, 2023 07:00
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD hesitates below the 105.00 barrier

September 14, 2023 07:00
17
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD steady and resilient in anticipation of US CPI

September 13, 2023 07:15
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar rally pauses to start the week

September 11, 2023 06:46
14

Leave Your Opinion Cancel reply

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

Recommended

Markets unsettled ahead of CPI data and FOMC minutes

Markets unsettled ahead of CPI data and FOMC minutes

October 13, 2021 06:11
15

Biden and Yellen met with CEOs of JPMorgan, Walmart, Gap to talk stimulus

February 9, 2021 19:39
10
Tech analysis

Safe-haven currencies remain on the offensive

February 28, 2020 07:16
28

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