Pairs narrow trading…

By IBTimes Staff Reporter | December 22 2009 2:26 PM

So far the major pairs are narrow trading due to technical movements throughout the currencies market, while that the Federal currency advanced to a Three-Month high within the prior EU session as the existing home sales inclined more than forecasts last month, indicating that the world's superpower housing sector is enhancing further.

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Consequently, the euro-dollar pair is currently narrow trading as a result of technical movements, knowing that the green Benjamin reached a three-month high against the euro, having the Union currency so far trading at 1.4270 recording a high of 1.4331 and a low of 1.4215 with a resistance at 1.4353 and a support at 1.4154, while the pair is forecasted to climb to the upside according to the one-hour stochastic oscillator.

As for the pound-dollar pair, it is consolidating so far on correctional movements and shows a tendency to incline on the four-hour and one-hour momentum indicators, having the royal pound trading currently around 1.5977 recording a high of 1.6099 and a low of 1.5919 with a resistance at 1.6066 and a support at 1.5831.

Now, turning to the dollar-yen pair, it is so far narrow trading between a resistance level witnessed at 92.58 and a support level detected at 86.64, knowing that the dollar has actually reached today a 7-week month-high against the yen, having the low-yielding Japanese yen trading so far at 91.77 recording a high of 91.86 and a low of 90.98.