Major pairs consolidating…

By @ibtimes on

So far throughout the currencies market and within the U.S session the major pairs are narrow trading on technical movements despite of mixed housing data posted out today from the U.S economy today knowing that the euro rose once again on a daily scale against the green Benjamin as it is speculated that the ECB will raise rates even amid debt turmoil.

As a result of these technical movements the euro-dollar pair is narrow trading on several time charts as neutral signs are witnessed throughout the momentum indicators at different time scales with the Union currency now trading around 1.4306 recording a high of 1.4308 and a low of 1.4304.The trading range for this week is among the major support at 1.4200 and the major resistance at 1.4725.

As for the pound-dollar pair, is consolidating and is forecasted to start inclining to the upside according to the four-hour stochastic oscillator, having in fact the royal pound so far trading around 1.6319 recording a high of 1.6323 and a low of 1.6316.The trading range for this week is among the major support at 1.6110 and the major resistance at 1.6690.

Now turning to the dollar-yen pair, it is actually consolidating on technical movements since that mixed signs are watched and seen throughout several time charts within the momentum indicators with the low-yielding yen now trading around 84.83 recording a high of 84.90 and a low of 84.80.The trading range for this week is among the major support at 80.60 and the major resistance at 85.65.

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