All most every market is witnessing high volatility and fluctuation in prices and trends, and this is most clearly seen in the currencies markets where some investors are positive after today's U.S data and others cautious from tomorrow's jobs report.
The Euro/USD pair stabilized as both economies released data that gave the currencies somewhat equal strengths, the US released healthy pending home sales and initial claims data while the Euro Zone announced rates unchanged at 1.1%. The USD strengthened versus the sterling pound and weakened versus the Japanese Yen.
Just before the ECB's rate decision we saw the rise in USD and Yen as they are low risk low return assets as investors felt the need of being cautious before such an important announcement, unlike yesterday as we saw both currencies plummet in the midst of risk seeking investors.
The Dollar index which measures the USD's performance versus six major currencies fell from today's opening level of 82.55 to currently trade at 82.47 recording its highest level at 82.60 and its lowest at 82.29. Gold prices climbed reaching $1251.80 per ounce from the opening price of $1245.50. Oil slightly climbed reaching $74.30.
The Euro/Dollar pair climbed up to this moment to trade above the opening level of $1.2808 at $1.2813 recording an intraday high at $1.2848 and a low at $1.2774, the pair did currently aims for the $1.2770 support level and if it succeeds in breaching it the next support the pair will meet at $1.2730 while resistance remains at $1.2840 level.
The Royal Pair Sterling/Dollar fell to trade below the opening level of $1.5451 at $1.5385 recording a high at $1.5458 and a low at $1.5348, the current price of the pair is a a strong support level, should the pair breach it in will continue downwards to the next support at $1.5310 while resistance remains at $1.5475.
Finally the Dollar/Yen pair FELL during today's session to trade below the opening level of ¥84.41 at ¥84.21 recording a high at ¥84.55 and a low at ¥83.97, the pair meets resistance at ¥84.21 and support at ¥83.85.