So far, the green Federal currency is gaining momentum throughout the currencies market as its refuge appeal is boosted due to today's gloomy housing data, knowing that the U.S pending home sales for November plummeted -16.0% and to 19.3% for the year ending November, while strong correctional movements have also supported the strengthening of the dollar against high-yielding currencies.
In fact, the dollar index, which tracks the strength of the dollar in front of a basket of currencies, is inclining presently on different time scales to trade around 77.66 recording a high of 77.70 and a low of 77.08.
As a result, the euro-dollar pair is plummeting so far on various time charts but forecasted to climb back up to the upside according to the one-hour and four-hour momentum indicators, having the Union currency now trading at 1.4360 recording a high of 1.4483 and a low of 1.4345 with a resistance at 1.4430 and a low at 1.4305.
Now, turning to the pound-dollar pair, it is plunging as well due to strong correctional movements and is forecasted to incline according to the four-hour and one-hour stochastic oscillator, having the royal pound now trading at 1.5981 recording a high of 1.6152 and a low of 1.5963 with a resistance at 1.6055 and a support at 1.5940.
As for the dollar-yen pair, it is narrow trading between a resistance level witnessed at 92.45 and a support level detected at 91.10 as mixed signs are seen throughout different time charts momentum indicators, having the low-yielding yen now trading around 91.62 recording a high of 92.54 and a low of 91.24.