So far the major pairs are narrow trading throughout the currencies market as technical movements are present and shaping overall trading after that the euro rose to a two-month high against the dollar as the U.S stocks erased losses on corporate earnings ahead of the FOMC Meeting Minutes.
In fact, the dollar index, which tracks the strength of the green Benjamin in front of a basket of currencies, is narrow trading currently due these technical movements to trade around 83.30 recording a high of 83.69 and a low of 83.20.
As a result, the euro-dollar pair is narrow trading because of these technical movements, having the Union currency now trading at $1.2753 recording a high of $1.2777 and a low of $1.2680 with a resistance at $1.2815 and a support level detected at $1.2580, knowing that the pair shows a tendency to start plummeting according to the one-hour and four-hour stochastic oscillator.
However, the pound-dollar pair is inclining faintly to the upside but is forecasted to start plunging as well according to the one-hour and four-hour momentum indicators, having the royal pound trading around $1.5272 recording a high of $1.5297 and a low of $1.5187 with a resistance at $1.5300 and a support at $1.5170.
As for the dollar-yen pair it is consolidating between a resistance level witnessed at 89.60 a support level detected at 87.65 as mixed signs are seen throughout the momentum indicators at different time scales, having in fact the pair trading so far around 88.34 recording a high 89.11 and a low of 88.17.