The currencies markets are calm as a result of the lack of major fundamentals in the markets while investors are closing in on deals ahead of the upcoming holidays and Christmas just around the corner, this resulted in low volume in the markets and sideways trading as the dollar continues to trade near a three-month high.
The euro gained strength versus the dollar as a result of the European Commission today saying that Europe might gain some strength in 2010 after the governments around the world have been using billions of dollars to stimulate economic growth. The EUR/USD is being traded at 1.4355 between the support of 1.4296 and the resistance of 1.4379 while recording a high of 1.4372 and a low of 1.4279.
Also as the United Kingdom lacked major fundamentals we see that the pound dollar is being traded in a sideways wave which is supported by the momentum indicators on the one-hour charts. The pair is currently traded at 1.6120 between the support of 1.6094 and the resistance of 1.6149 while recording a high of 1.6162 and a low of 1.6075.
Turning to the yen versus dollar pair we see that they are being traded at 90.72 between the support of 90.26 and the resistance of 90.91 while they recorded so far a high of 90.73 and a low of 90.23. The momentum indicators here are providing us also with a sideways wave on the one-hour charts.