So far, the green Benjamin remains on loosing momentum throughout the currencies market as its as its refuge appeal has been corroded by optimism that dominated markets due to the better than expectedISM Manufacturing reportin the month of Decemberalong withthe unexpected cheerful manufacturing data released by the European Union as well; indicatingthat the Manufacturing sectors of both the U.S and Europe are gradually enhancing in a fast pase.
In fact, the dollar index, which tracks the strength of the Federal currency in front of a basket of major currencies, is plummeting on the daily, 1-hour and four-hour charts to trade so far at 77.45 recording a high of 78.18 and a low of 77.25.
As a result, he euro-dollar pair is so far slightly inclining to the upside but forecasted to start plunging according to the one-hour and four-hour scale stochastic oscillator, having the Union currency trading at 1.4421 recording a high of 1.4456 and a low of 1.4256 with a resistance at 1.4436 and a low of 1.4394.
However, the pound-dollar pair is plummeting due to strong technical movements but may start to incline to the upside according to the one-hour momentum indicator, having the royal pound so far trading at 1.6103 recording a high of 1.6239 and a low of 1.6056 with a resistance at 1.6160 and a support at 1.6033.
Now, turning to the dollar-yen pair, it is now narrow trading between a resistance level witnessed at 93.60 and a support level detected at 91.94 as mixed sings are seen at different time scales throughout the momentum indicators, having the low-yielding yen now trading at 92.60 recording a high of 93.21 and a low of 92.17.