Euro weakened on technical movements…

By @ibtimes on

The European currency currently weakened on technical movements after that it strengthened strongly in front of most major counterparts within the prior EU session after that data from the area's strongest economy; Germany, showed that its investor confidence increased throughout this month while that the world's leading economy sales rose in January less than economists forecast.

As a result the euro-dollar pair is now plummeting on technical movements and is forecasted to plummet further to the downside according to the four-hour stochastic oscillator having the Union currency trading at 1.3485 recording a high of 1.3550 and a low of 1.3459. The trading range for today is among the key support at 1.3365 and the key resistance at 1.3715.

As for the pound-dollar pair, it is falling as well due to technical movements and is forecasted to slide to the downside according to the four-hour stochastic oscillator having the Union currency trading at 1.6133 recording a high of 1.6169 and a low of 1.6004. The trading range for today is among the key support at 1.5965 and the key resistance at 1.6300.

Now turning to the dollar-yen pair, it is rising to the upside and may rise further according to the one-hour and four-hur momentum indicator with the low-yielding yen trading around 83.83 recording a high of 83.91 and a low of 83.17. The trading range for today is among the key support at 81.05 and the key resistance at 84.25.

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