The dollar once again is mixed in the markets as it is inclining versus the euro while weakening against the strengthening pound. If we turn to the Dollar Index which measures the strength of the dollar in front a basket of currencies, we see that it is inclining which gives us more support that the dollar is appreciating in the markets. The U.S. economy today is going to release its consumer confidence in which expectations show will slightly rise but if either the index dips or inclines heavily, markets will be shook.
The euro is tumbling in the markets clearing the way for the dollar to rise, the euro zone today released its M3 money supply showing that they declined and this hinted that money supply in the markets were still tight despite the ECB's measures of bonds buying program. The EUR/USD is currently trading at 1.4869 while recording a high of 1.4926 and a low of 1.4848, the momentum indicators are providing us with a downwards trend on the one-hour charts. For the pair we see a support at 1.4803 and a resistance of 1.4923.
Now looking at the pound we see that it is gathering momentum versus the federal currency to reverse to the downside as the pair is struggling to breach the resistance of 1.6400 successfully. The GBP/USD is being traded at 1.6383 while recording a high of 1.6399 and a low of 1.6284. The volumes indicators on the one-hour charts are showing us there is low volume in the markets while the momentum indicators are providing us with a downwards trend, there is currently a support at 1.6360 and 1.6321.
The dollar yen pair is declining therefore meaning that the yen is inclining against the greenback as they are being traded at 91.94 while recording a high of 92.31 and a low of 91.81. For the pair we see there is a support at 91.55 and a resistance at 92.20.