Majors traded in a narrow range against the greenback, with some upside bias during today's Asian session, compensating some of the losses witnessed lately. The dollar index traded between the highest 84.16 and the lowest 83.92, and now it trades around the 84.12 level. Today the US will release the weekly jobless claims and the preliminary reading for the nonfarm productivity, which is expected to decline during the first quarter, which might influence the dollar's movement.
The euro against the dollar traded in a narrow range during the Asian session between the highest at 1.2856 and the lowest at 1.2815. Now the pair is trading around the 1.2825 level, between 1.2820 and 1.2875. Today the European central bank will release their interest rate decision, expected to remain unchanged at 1.0% in an attempt to support the economic growth in the EU region. This decision will be followed by ECB's president Trichet press conference. All eyes will be on him since he might talk about Greece's debt problems. Meanwhile Germany will release their factory orders which are expected to rise during march. The hourly momentum indicators point that the pair is within an oversold area, as for the 4 hours momentum indicators they indicate the pair might bounce from an overbought area. But the daily indicators show the pair might bounce back from an oversold area. The pair today may trade around 1.3035 if it breaches the 1.2935 levels, and may trade around 1.2755 if it breaches the 1.2790 levels.
The pound against the dollar also traded in a narrow range during the Asian session between the highest of 1.5146 and the lowest of 1.5096. Now the pair is trading around the 1.5110 levels between 1.5075 and 1.5125. today Britain is having its parliamentary elections today as well as the release of the services PMI which might influence the currencies movement. The hourly momentum indicators point that the pair is within an oversold area, as for the 4 hours momentum indicators they indicate the pair might bounce from an oversold area. But the daily indicators show the pair might bounce back from an overbought area. The pair today may trade around 1.5245 if it breaches the 1.5160 levels, and may trade around 1.5000 if it breaches the 1.5030 levels.
The dollar against yen traded between the highest of 93.96 and the lowest of 93.62. Now the pair is trading around 93.93 levels between 93.65 and 94.00. The hourly momentum indicators point that the pair is within an overbought area, as for the 4 hours momentum indicators they indicate the pair is within an oversold area. But the daily indicators show the pair might bounce back from an overbought area. The pair today may trade around 94.80 if it breaches the 94.45 levels, and may trade around 92.80 if it breaches the 93.20 levels.

Majors traded in a narrow range against the greenback, with some upside bias during today's Asian session, compensating some of the losses witnessed lately. The dollar index traded between the highest 84.16 and the lowest 83.92, and now it trades around the 84.12 level. Today the US will release the weekly jobless claims and the preliminary reading for the nonfarm productivity, which is expected to decline during the first quarter, which might influence the dollar's movement.

The euro against the dollar traded in a narrow range during the Asian session between the highest at 1.2856 and the lowest at 1.2815. Now the pair is trading around the 1.2825 level, between 1.2820 and 1.2875. Today the European central bank will release their interest rate decision, expected to remain unchanged at 1.0% in an attempt to support the economic growth in the EU region. This decision will be followed by ECB's president Trichet press conference. All eyes will be on him since he might talk about Greece's debt problems. Meanwhile Germany will release their factory orders which are expected to rise during march. The hourly momentum indicators point that the pair is within an oversold area, as for the 4 hours momentum indicators they indicate the pair might bounce from an overbought area. But the daily indicators show the pair might bounce back from an oversold area. The pair today may trade around 1.3035 if it breaches the 1.2935 levels, and may trade around 1.2755 if it breaches the 1.2790 levels.

The pound against the dollar also traded in a narrow range during the Asian session between the highest of 1.5146 and the lowest of 1.5096. Now the pair is trading around the 1.5110 levels between 1.5075 and 1.5125. today Britain is having its parliamentary elections today as well as the release of the services PMI which might influence the currencies movement. The hourly momentum indicators point that the pair is within an oversold area, as for the 4 hours momentum indicators they indicate the pair might bounce from an oversold area. But the daily indicators show the pair might bounce back from an overbought area. The pair today may trade around 1.5245 if it breaches the 1.5160 levels, and may trade around 1.5000 if it breaches the 1.5030 levels.

The dollar against yen traded between the highest of 93.96 and the lowest of 93.62. Now the pair is trading around 93.93 levels between 93.65 and 94.00. The hourly momentum indicators point that the pair is within an overbought area, as for the 4 hours momentum indicators they indicate the pair is within an oversold area. But the daily indicators show the pair might bounce back from an overbought area. The pair today may trade around 94.80 if it breaches the 94.45 levels, and may trade around 92.80 if it breaches the 93.20 levels.