FXstreet.com (Barcelona) - European markets are going through moderate gains in the first two hours, after a mixed session in Asia, although investors are acting with caution after yesterday's Fed´s announcement to buy longer-term Treasuries. The Dollar was hammered across the board, and Euro Yen and Pound remain on consolidation after yesterday's rallies.

Eurostoxx 50 Index is going through gains around 0.86%, German Dax gains 0.96% and the French CAC Index adds 0.76% with Financials being bought in a session with relatively low trading volume.

EUR/USD remains trading in a range from 1.3415 session low to 1.3515, volatility has decreased and Bollinger bands are tightening and flattening, the Euro seems to be consolidating after yesterday's bullish move.

GBP/USD has moved upwards from 1.4117 to 1.4300 resistance level, bit it has failed to break it, and the Sterling seems to be turning downwards.

USD/JPY is attempting to perform a reaction from two week low at 95.26 reached after the Fed's quantitative easing plan was released. At the moment, the Dollar tries to get above 95.65 Mar 18 low.