So far, major pairs are narrow trading due to technical movements after that the green Benjamin recovered significantly as fears were spread after that the U.S stocks dropped deeply within the midday from a 13-month high and since Asian stocks and U.S equity-index futures plummeted, while Chinese Premier Wen Jiabao proclaimed that the global recovery remains fragile.
In fact, the dollar index, which tracks the strength of the dollar against a basket of currencies, is climbing to the upside considerably on the daily scale to trade at 75.57 recording a high of 75.65 and a low of 74.92.
Still, as a result of current technical movements, the euro-dollar pair is consolidated and forecasted to climb according to the four-hour and one-hour momentum indicators, having the Union currency trading at 1.4872 recording a high of 1.5016 and a low of 1.4851 with a resistance at 1.4902 and a support at 1.4808.
Moreover, the pound-dollar pair is slightly inclining on technical movements on the four-hour chart to have the royal pound trading at 1.6580 recording a high of 1.6623 and a low of 1.6514 along with a resistance at 1.6659 and a support at 1.6478, knowing that the pair shows a tendency to incline according to the four-hour stochastic oscillator.
Now, turning to the dollar-yen pair is narrow trading presently between a resistance level witnessed at 90.89 and a support level seen at 89.92, having in fact so far the low-yielding Japanese currency trading at 90.43 recording a high of 90.60 and a low of 89.63.