A calm trading during the Asian session

By IBTimes Staff Reporter | August 13 2010 12:03 AM

Yesterday majors fell against the dollar; also the Yen declined against dollar, with expectations noted that the Japanese government is working to curb the Yen's gain, which has a negative effect on the nation's export. Today, majors are trading near of closing levels.

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Today, the Euro rose against the dollar during the previous four hours, where the euro/dollar pair recorded a high of 12864 and a low of 1.2825, having the pair trading around 1.2851. The pair is trading in an oversold area according to daily momentum indicators, trading between its resistance of 1.2924 and the support at 1.2775.

Turing to the Sterling inclined at a mild pace against the dollar and the Yen, while the pound/dollar pair is recoding a high of 1.5625 and a low of 1.5579, having the pair trading around 1.6508, also the pair is trading in an oversold area according to daily momentum indicators, trading among its resistance of 1.5804 and the support at 1.5550.

Yesterday, the dollar/yen rose to record 86.17, while the pair was trading around this level, which recording the highest of 86.17 and lowest of 85.95 and the pair is trading around 86.10. The daily momentum indicators indicate that the pair is on upward trend along with four hours momentum indicators, which increases the pressure on the pair to resume his escalation.