Strong optimism was spread throughout the past EU session as the European Central Bank President Jean-Claude Trichet proclaimed publicly that the economic recovery is actually gaining momentum, while that the number of Americans applying for jobless benefits fell more than forecast, having in fact the country's Initial Jobless Claims for June 3 plunging cheerfully to 454 thousand.
Therefore, hopes are spread globally and major pairs are currently inclining slightly due to technical movements that are now shaping the currencies market movements and optimism, knowing that the dollar index, which tracks the strength of the green Benjamin in front of a basket of currencies, is seeing its refuge appeal still corroded to plunge at several time scale and trade so far around 83.85 recording a high of 84.01 and a low of 83.69.
In fact, the euro-dollar pair remains on inclining so far due to a weakening of the dollar and boosted appetite of risk, having the Union currency trading around 1.2677 recording a high of 1.2701 and a low of 1.2618 with a resistance at 1.2840 and a support at 1.2540, knowing that the pair may start to plunge faintly according to the four-hour stochastic oscillator.
As for the pound-dollar pair, it is inclining as well and is forecasted to climb further to the upside according to the four-hour momentum indicators, having the royal pound so far trading at 1.5131 recording a high of 1.5240 and a low of 1.5100 with a resistance level seen at 1.5230 and a support level detected at 1.5000.
Now, turning to the dollar-yen pair, it is narrow trading actually between a resistance witnessed at 89.45 and a support seen at 87.00 as mixed signs are seen throughout the momentum indicator at different time charts, having the low-yielding yen trading around 88.45 recording a high of 88.64 and a low of 87.64.