Pairs consolidating on mixed sentiments…

By @ibtimes on

So far the major pairs are narrow trading on technical movements and on mixed sentiments spread throughout the currencies market within the U.S session as on one hand optimism was boosted when the Commerce Department from the world's leading economy showed us that the consumer spending reached actually its highest level since October within this past February to rise up to 0.7% from 0.2%.

While that on the other hand pessimism was spread as well after that radiation levels that can be dangerous and fatal were detected actually at a damaged nuclear power plant in Japan although the overall situation on the Japanese soil is under control.

As a result the euro-dollar pair is consolidating but may start climb to the upside according to the four-hour stochastic oscillator, having the Union currency trading so far around 1.4094 recording a high of 1.4115 and a low of 1.4019.The trading range for today is among the key support at 1.3365 and the key resistance at 1.3715.

As for the pound-dollar, it is narrow trading to watch the royal pound trade so far around 1.6016 recording a high of 1.6037 and a low of 1.5934, having the pair showing a tendency to start falling according to the one-hour momentum indicators.The trading range for today is among the key support at 1.5965 and the key resistance at 1.6300.

Now, turning to the dollar-yen pair, it is inclining faintly but is forecasted to start slipping to the downside according to the one-hour and four-hour momentum indicators with the low-yielding yen now trading around 81.70 recording a high of 81.84 and a low of 81.37.The trading range for today is among the key support at 81.05 and the key resistance at 84.25.

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