Dollar appeal corroded…

By @ibtimes on

Throughout today's US data and yesterday's FOMC minutes meeting outline it has been shown that the present conjuncture of the superpower lost significant strength mainly as a result of the surge in crude and commodities prices, which curbed down the American consumption, while that the housing activities of the country remain at a depressed level to accordingly suck out of the nation's strength; the green Benjamin.

As a result, the euro-dollar pair is inclining on the daily scale but narrow trading on the one-hour and four-hour charts with the Union currency now trading around 1.4311 recording a high of 1.4323 and a low of 1.4206 with mixed signs shown throughout several time-scales momentum indicators.The trading range for today is among the major support at 1.4265 and the major resistance at 1.4640.

However the pound-dollar pair is inclining throughout the day and on the one-hour and four-hour charts along with a showed tendency throughout the momentum indicators on these same time-charts of a further incline to the upside with the royal pound trading around 1.6187 recording a high of 1.6206 and a low of 1.6129.The trading range for today is among the major support at 1.6210 and the major resistance at 1.6525.

As for the dollar-yen pair, it is currently consolidating on technical movements with the low-yielding currency yen trading around 81.76 recording a high of 82.27 and a low of 81.50, knowing that the pair is forecasted to start climbing to the upside significantly according to the four-hour stochastic oscillator.The trading range for today is among the major support at 79.00 and the major resistance at 82.50.

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