So far the present U.S conjuncture will be colored in dark gray as the current recovery pace of the country has stagnated strongly as already attested by the FOMC Committee this week and forecasted before, knowing that the US Commerce Department released this morning its Trade Balance report for the month of June, to show a widened deficit in the balance to reach $49.9 billion.
Accordingly, the dollar refuge appeal remains boosted throughout these conditions mentioned, watching the dollar index, which tracks the strength of the green Benjamin in front of a basket of currencies, inclining on several time scales to trade at 82.32 recording a high of 82.37 and a low of 80.83.
However, the major pairs are narrow trading currently as a result of technical movements despite of a strengthened dollar and these boosted fears, having for instance the euro-dollar pair consolidating and forecasted to incline according to the one-hour and four-hour momentum indicators, having the Union currency now trading at 1.2869 recording a high of 1.3186 and a low of 1.2861 with a resistance at 1.3120 and a support at 1.2830.
As for he pound-dollar pair, it is narrow trading as well as the euro-dollar pair due to the present technical movements, having the royal pound trading at 1.5659 recording a high of 1.5870 and a low of 1.5626 with a resistance seen at 1.5830 and a support at 1.5500, knowing the pair may start to incline according to the four-hour stochastic oscillator.
Now, turning to the dollar-yen pair, it is narrow trading between a resistance level witnessed at 86.80 and a support level detected at 84.20 as mixed signs are seen throughout the momentum indicators at different time charts, having the low-yielding yen now trading around 85.27 recording a high of 85.46 and a low of 84.71.