Dollar regaining slender strength on technical movements…

By @ibtimes on

Although today the dollar index reached its lowest level in more than two years after that the Bureau of Economic Analysis from the U.S Commerce Department showed that this year's first quarter advanced reading of the annualized GDP of the superpower rose only at a 1.8 percent annual rate from January through March from actually a 3.1 percent pace that was witnessed throughout last year last quarter, still the dollar managed to gain slightly throughout the currencies market mainly due to technical movements within the U.S session.

As a result of these technical movements the euro-dollar pair is narrow trading on several time charts as neutral signs are witnessed throughout the momentum indicators at different time scales with the Union currency now trading around 1.48029 recording a high of 1.4881 and a low of 1.4767.The trading range for this week is among the major support at 1.4200 and the major resistance at 1.4725.

As for the pound-dollar pair, is consolidating and is forecasted to start inclining to the upside according to the four-hour and one-hour stochastic oscillator, having in fact the royal pound so far trading around 1.6643 recording a high of 1.6745 and a low of 1.6618.The trading range for this week is among the major support at 1.6110 and the major resistance at 1.6690.

Now turning to the dollar-yen pair, it is actually consolidating on technical movements since that mixed signs are watched and seen throughout several time charts within the momentum indicators with the low-yielding yen now trading around 81.55 recording a high of 82.26 and a low of 81.39.The trading range for this week is among the major support at 80.60 and the major resistance at 85.65.

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