The euro rose with the beginning of the week as the European leaders plans to help European banks and contain the sovereign debt crisis started to show up, on the other hand forecasts that the Fed to activate the third phase of the quantitative easing helped to decline the dollar against the major currencies.

The euro advanced against the U.S. dollar during today's Asian session. The EU currency is trading as of this writing at 1.3928 after recording the highest of 1.3938 and the lowest of 1.3835. On the short term the currency faces a resistance at 1.3970 while the momentum indicators show the pair is trading in an overbought area.

The pound increased against the U.S. dollar during today's Asian session touching the highest of 1.5985, after it recorded the lowest of 1.5934, and as of this writing it is trading at 1.5979. On the short term the currency faces a resistance at 1.6040, while the momentum indicators show the pair is trading in an overbought area.

The dollar/yen pair retreated during today's Asian session where it reached to its lowest at 76.18 level, the pair now is trading at 76.28 recording the highest of 76.42. Momentum indicators show the pair is heading to the downside.