Pairs narrow trading on central banks outlook and gloomy US data…

By @ibtimes on

Just currently the major pairs are narrow trading within the currencies trading and throughout the US session after that it is speculated that central banks in Europe and the U.S are much closer to remove stimulus due to an enhanced global recovery witnessed while that fears arouse from the world's leading economy mainly after that its consumer confidence came out gloomy and lower than the market forecasts.

As a result the euro-dollar pair is consolidating but may start climb to the upside according to the one-hour stochastic oscillator, having the Union currency trading so far around 1.4085 recording a high of 1.4148 and a low of 1.4048.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 1.5988 recording a high of 1.6041 and a low of 1.5941, having the pair showing a tendency to start falling according to the one-hour and four-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 strongly on the daily chart, knowing that the yen fell to the lowest level in 10 months against the euro today, but consolidating on the four-hour and one-hour charts 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 82.42 recording a high of 82.46 and a low of 81.52.The trading range for today is among the key support at 81.05 and the key resistance at 84.25.

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