So far major pairs are narrow trading as mixed sentiments are spread along with technical movements shaping the market and limiting huge fluctuations, having today the U.S orders for durable goods excluding transportation rising cheerfully in May while that the durable goods orders plummeted as already forecasted by -1.1 percent and the labor deterioration remains on easing but at a slow pace.
Accordingly, the dollar index, which tracks the strength of the dollar in front of a basket of currencies, is consolidating on the four-hour and one-hour charts to trade so far 85.59 recording a high of 85.99 and a low of 85.40.
As a result, the currencies market is filled with calm movements of pairs, having the euro-dollar pair narrow trading so far and showing a tendency to climb to the upside faintly according to the four-hour scale with the Union currency trading at $1.2349 recording a high of $1.2387 and a low of $1.2259 along with a resistance seen at $1.2400 and a support at $1.2330, however so long as the pair remains above $1.2330; the pair's direction will be to the upside
As for the pound-dollar pair, it is narrow trading as well, having the royal pound now trading at $1.4949 recording a high of $1.5011 and a low of $1.4929 with a resistance found at $1.5120 and a support detected at $1.4885, while the pair is forecasted to start plunging according to the four-hour stochastic oscillator.
Now, turning to the dollar-yen, it is inclining as a result of technical movements, having the pair trading at 89.49 recording a high of 89.97 and a low of 89.20 with a resistance witnessed at 90.60 and a support at 88.00, knowing that the pair shows a strong tendency to climb to the upside, knowing that as long as it remains above 89.15 the pair's direction will be to the upside.