Majors strengthened slightly against the dollar and the yen, however remained within limited ranges which couldn't escape due to the low volume imposed yesterday as the US was out celebrating the Independence Day. The US will release today its ISM non-manufacturing index. The dollar index traded today between the highest 84.81 and the lowest 84.40. The index now trades around 84.51.
The euro against the dollar traded during the Asian session between the highest of 1.2557 and the lowest of 1.2480. Now the pair is trading around the 1.2546 level, between 1.2500 and 1.2565. EU will lack the fundamentals today thereby the euro might move more technically or affected by the dollar movement during today. The hourly momentum indicators show the pair is within an overbought area. But the four hours indicators show the pair is within an oversold area, which might indicate the pair will move in tight ranges. The pair might trade around 1.2670 if it breaches the 1.2610 and may trade around the 1.2400 if it breaches the 1.2470.
The pound against the dollar traded during the Asian session between the highest of 1.5157 and the lowest of 1.5081. Now the pair is trading around the 1.5142 level, between 1.5130 and 1.5190. UK will lack the fundamentals today. The four hours momentum indicators show the pair might rebound from an oversold area. But the daily indicators show that the pair is within an overbought area. The pair might trade around 1.5215 and if it breaches it the pair may trade around 1.5240 and 1.5070.
The dollar against the yen traded between the highest of 87.77 and the lowest of 87.41. Now the pair is trading around the 87.76 level, between 87.40 and 88.70. The four hours and daily indicators show that the pair might rebound from an oversold area. The 88.00 level might prevent the pair from rising, which increase our believes it might trade in narrow ranges.