Pairs narrow trading on mixed sentiments…

By @ibtimes on

Major pairs are narrow trading today on mixed sentiments and technical movements, having in mind that the world's leading economy showed a slight incline of its number of closed sales of pre-owned single family homes today within the month of March with actually the existing home sales inclining by 5.10 million units from 4.88 million of units, still overall housing activities remain weak and will require time to heal.

As a result of these technical movements the euro-dollar pair is narrow trading on several time charts on technical movements but is forecasted to plummet according to the four-hour momentum indicators at different time scales with the Union currency now trading around 1.4485 recording a high of 1.4546 and a low of 1.4326. The trading range for this week is among the major support at 1.4200 and the major resistance at 1.4725.

As for the pound-dollar pair, it is consolidating and is forecasted to start declining to the downside according to the four-hour stochastic oscillator, having in fact the royal pound so far trading around 1.63931 recording a high of 1.64247 and a low of 1.63074. The trading range for this week is among the major support at 1.6110 and the major resistance at 1.6690.

Now turning to the dollar-yen pair, it is actually consolidating on technical movements since that mixed signs are watched and seen throughout several time charts within the momentum indicators with the low-yielding yen now trading around 82.43 recording a high of 83.09 and a low of 82.25. The trading range for this week is among the major support at 80.60 and the major resistance at 85.65.

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