So far, correctional movements are clearly witnessed throughout the currencies market after a strong strengthening of the green Benjamin along with the yen as their appeal was strongly boosted as a refuge as a result of fears, knowing that the U.S stocks plummeted within the midday session and the EU stocks closed in red.
Moreover the green Federal currency gained momentum in the prior EU session as pessimism has been spread after that ECB Chairman; Trichet signaled that the ECB will start to gradually withdraw liquidity from markets and that the benchmark interest rate would not be raised any time soon investors sold shares and bought short-term Treasuries to reduce chances of losses.
However, rough correctional movements are taking place so far to support a slight incline of the euro-dollar pair within the four-hour-chart; watching the euro trading currently at 1.4861 recording a high of 1.4934 and a low of 1.4799 with a resistance at 1.4916 and a support at 1.4812, knowing that a further incline of the pair is highly forecasted according to the four-scale stochastic oscillator.
Still, the pound-dollar is so far narrow trading as mixed signs are witnessed throughout several time-scales momentum indicators, having the royal pound trading so far at 1.6494 recording a high of 1.6674 and a low of 1.6458 with a resistance at 1.6554 and a support at 1.6410.
As for the dollar-yen pair, it is consolidating so far on technical movements between a strong resistance level witnessed at 89.42 and a support level detected at 88.24, having the low-yielding yen trading presently around 88.94 recording a high of 89.12 and a low of 88.66.