Optimism is spread as world's biggest banks are currently less worried regarding the EU unending debt crisis since that the European Central Bank provided unlimited cash to the region's financial system and Greece is projected to complete the biggest sovereign debt reform in history yet major pairs are presently narrow trading on technical movements that are taking place so far.
However the Dollar index which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, plunged to currently trade at 80.01 recording its highest level at 80.13 and its lowest at 79.87.
Gold prices rose to reach $1695.59 per ounce climbing from the opening price of $1713.08. Oil dropped to reach $105.64 after opening at $107.17 per barrel.
Now the euro is inclining slightly on the four-hour scale but consolidating on the one-hour chart and is forecasted to show later on a plunge to the downside according to the one-hour and four-hour stochastic oscillator with in fact so far the EUR/USD pair trading around $1.3147 while recording the highest level of $1.3155 and lowest level of $1.3078.The trading range for today is among key support at 1.2860 and key resistance at 1.3250.
The British Pound is consolidating as well throughout the one-hour scale driving accordingly the GBP/USD pair to trade around $1.5632 and therefore shows mixed signs on different time charts while recording the highest level of $1.5694 and lowest of $1.5601.The trading range for today is among key support at 1.5420 and key resistance at 1.5820.
Finally, the Dollar rose faintly versus the Japanese Yen but is forecasted to climb up strongly to the upside according to the one-hour and four-hour momentum indicators with the USD/JPY pair trading around ¥82.23 while recording the highest level of ¥82.42 and lowest levels of ¥82.10.The trading range for today is among key support at 81.25 and key resistance now at 83.30.