Dollar gaining back momentum on technical movements…

By @ibtimes on

Although throughout the prior EU session and on the daily base the dollar plummeted to its lowest level against the Union currency amid signs that the world's leading economy revival remains slothful and efforts of the EU to control the region's debt crisis with mixed housing data posted out today in the U.S, still recently the dollar is gaining back momentum but on pure technical movements.

Accordingly the euro-dollar pair plunged due to a current strengthened dollar with the Union currency so far trading around 1.3480 recording a high of 1.3538 and a low of 1.3366, knowing that the pair is forecasted to plummet further to the downside according to the one-hour an four-hour momentum indicators. The trading range for today is among the key support at 1.3065 and the key resistance at 1.3625

However the pound-dollar pair is so far narrow trading as mixed signs are shown throughout the momentum indicators at different time charts within the currencies market with the royal pound trading around 1.5984 recording a high of 1.6037 and a low of 1.5943. The trading range for today is among the key support at 1.5700 and the key resistance at 1.6060.

Now turning to the dollar-yen pair, it is consolidating as a result of technical movements but is forecasted to start inclining according to the one-dollar and four-hour stochastic oscillator, having the low-yielding Japanese currency now trading around 81.87 recording a high of 82.68 and a low of 81.85. The trading range for today is among the key support at 81.05 and the key resistance at 83.70.

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