Calm movements…

By @ibtimes on

So far, the major pairs are narrow trading on technical movements and since that investors continue on closing their positions ahead of the New Year, however the dollar was able to advance against the yen on today's U.S cheerful data, knowing that Chicago PMI unexpectedly rose to 60.0.

Furthermore we should consider the fact that the Federal Reserve is highly forecasted to extract stimulus measures soon from the world's largest economy since the overall economic conditions are clearly enhancing further throughout this past present period.

Accordingly, as a result of the present technical the euro-dollar pair is narrow trading and forecasted to incline according to the four-hour momentum indicators, having the Union currency now trading at 1.4336 recording a high of 1.4360 and a low of 1.4272 with a resistance at 1.4400 and a support at 1.4310.

As for the pound-dollar pair, it is consolidating as well but shows a strong tendency to slip to the downside according to the one-hour and four-hour momentum indicators, knowing that the royal pound is so far trading at 1.6067 recording a high of 1.6094 and a low of 1.5831 with a resistance seen at 1.6133 and a support detected at 1.5966.

Now, turning to the dollar-yen pair, it is narrow trading as well between a resistance level witnessed at 92.63 and a support level at 91.94 as mixed signs are seen throughout the momentum indicators at various time scales, having the pair currently trading around 92.41 recording a high of 92.76 and a low of 91.88.

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