Correctional movements…

By @ibtimes on

So far, the major pairs are narrow trading after a considerable appeal refuge boost of the low-yielding currencies; the dollar and the yen, as the spending and income growth remains weak within the world's largest economy, despite the cheerful economical growth 3.5% witnessed in the third quarter and optimistic incline of the Chicago PMI and Uni. of Michigan Confidence.

As a result, the euro-dollar pair is narrow trading so far due to technical movements and is forecasted to start climbing to the upside according to the one-hour and four-hour momentum indicators, having the Union currency so far trading at 1.4731 recording a high of 1.4858 and a low of 1.4712 with a resistance at 1.4784 and a support at 1.4700.

As for the pound-dollar pair, it is consolidated as well as the euro-dollar pair as a result of correctional movements, having the royal pound trading so far at 1.6433 recording a high of 1.6578 and a low of 1.6412 with a resistance at 1.6465 and a support at 1.6405, knowing that the pair may incline according to the four-hour stochastic oscillator.

Furthermore, the dollar-yen pair is narrow trading between a resistance level witnessed at 90.63 and a support level detected around 89.65, after that the yen; being the lowest-yielding currency, advanced considerably against the dollar and is trading so far around 89.98 recording a high of 91.57 and a low of 89.90.

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