So far the green Benjamin is loosing momentum throughout the currencies market as Federal Reserve Bank of St. Louis President James Bullard declared that policy makers may not raise interest rates till the year 2012, as the present U.S economic conjuncture and economic conditions are shaky and weak, corroding therefore the refuge appeal of the dollar and resulting in a narrow trading of the major pairs.

As a result, the euro-dollar pair is narrow trading having the Union currency trading so far around 1.4947 recording a high of 1.4990 and a low of 1.4857 with a resistance at 1.5020 and a support at 1.4875, knowing that the pair may plunge to the downside according to the four-hour momentum indicators.

Moreover, the pound-dollar pair is consolidated so far and forecasted to rise to the upside according to the four-hour and one-hour stochastic oscillator, having the royal pound trading at 1.6722 recording a high of 1.6844 and a low of 1.6714 with a resistance at 1.6802 and a support at 1.6644.

Furthermore, the dollar-yen pair is narrow trading up till now on technical movements around a resistance level witnessed at 89.74 and a support level detected at 88.96, having the low-yielding Japanese currency trading so far around 89.38 recording a high of 89.44 and a low of 88.99.