The euro was sent above $1.50 for the first time since August 2008 as the dollar appeal as a refuge was corroded by optimism spread concerning an endured global recovery taking place, having U.S huge and known corporations such as Yahoo! Inc. and Morgan Stanley witnessing better-than forecasted results throughout their third-quarter.
As a result, the dollar index, which shows the strength of the dollar in front of a basket of currencies, is plummeting deeply on a daily scale and four-hour chart, trading at 74.98 recording a high of 75.71 and a low of 74.93.
Consequently, the euro-dollar pair is climbing to the upside but forecasted to start plunging slightly according to the four-hour and one-hour momentum indicators, having the Union currency so far trading at 1.5036 recording a high of 1.5045 and a low of 1.4887 with a resistance at 1.5061 and a support at 1.4978.
As for the pound-dollar pair, it is inclining as well as the dollar has weakened considerably to permit the royal pound to strengthen and trade so far around 1.6613 recording a high of 1.6632 and a low of 1.6345 with a resistance at 1.6718 and a support at 1.6473, knowing that the pair may plummet according to the one-hour and four-hour stochastic oscillator.
Now, turning to the dollar-yen pair, it is narrow trading so far between a resistance level witnessed at 91.21 and a support level detected at 90.63 as mixed signs are witnessed throughout the momentum indicators, having thepair so far trading around 91.01 recording a high of 91.27 and a low of 90.47