So far, pessimism returned to markets as the personal spending and income came out worse than forecasts in the U.S, supporting the fact that the United States remains far from healing from the symptoms of the ongoing recession, watching consequently traders' appetite for risk corroding.
As a result, the euro-dollar pair is plummeting since the dollar is advancing against the European currency on fears over the outlook, watching the euro traded at 1.3237 while recording a high of 1.3386 and a low of 1.3192 along with a resistance at 1.3270 and a support at 1.3204, knowing that the pair may fall further as it is slumping according to the four-hour scale momentum indicators.
As for the pound-dollar pair, it is plunging as well following the lead of the euro-dollar pair, having the royal pound trading at 1.4726 recording a high of 1.4947 and a low of 1.4704, seeing its appeal eroded as a result of the strong pessimistic sentiments with a resistance detected at 1.4827 and a strong support that is hard to breach at 1.4683. Plus, the pair shows a strong tendency to slip further on the four-hour scale as it is falling during that scale as seen through the momentum indicators.
Now, the dollar-yen pair is slightly inclining on the four-hour scale, watching in fact the pair being traded so far at 98.30 recording a high of 98.53 and a low of 97.15, not forgetting a first resistance level witnessed at 98.66 and a second one detected at 98.93 in case if the first level is breached along with a support level at 97.47.