Despite upbeat economic data released in the Euro Zone and in the United Kingdom, fears are still spread and the currencies market remains on being haunted by pessimism as forecasts and the overall outlook continues on being surrounded by darkness seeing the Union's growth sliding further into a worsened recession and Japan's economy witnessing its worse contraction since 1974.

As a result, the euro-dollar pair is slumping as traders are getting rid of the Union's currency due to ongoing worries that are still present in the market, knowing of course that the euro is a higher-yielding asset unwanted in front of the dollar. Consequently, the euro is traded at 1.2637 recording a high of 1.2799 and a low of 1.2601 along with a resistance level at 1.2673 and a support level at 1.2603 which are in fact levels in which the pair is trading as mixed signs are detected through different times in the momentum indicators.

As for the pound-dollar pair, it is falling as well since uncertainties created a loss of the appetite of risk which corroded the appeal of the royal pound being a high-yielding currency as the euro. Therefore, the pound is traded at 1.4257 recording a high of 1.4310 and a low of 1.4123 with a resistance at 1.4343 and a support at 1.4177 knowing that the pair is inclining on 1-hour and four-hour scales as it is raising to the upside on the same timing scales.

Now, the dollar-yen is steady with a yen traded so far at 91.77 recording a high of 92.74 and a low of 91.56 along with a resistance shown at 92.12 and a support at 91.17; levels in which the pair is floating through since selling and buying signs are noticed on the 30-minutes and daily scale.

Crown Forex