Today strong optimism was raised on the U.S soil to therefore watch an ongoing strengthening of the dollar throughout the day to reach an 11-month high against the yen as the Federal Reserve cheerfully raised its outlook regarding the superpower's growth to therefore ease the high prior forecasts that the central bank will begin a third round of bond purchases
Accordingly for the dollar index, which measures the performance of the dollar against six major currencies including the euro and the Japanese yen and the pound sterling, it rose to currently trading at levels of 80.52 reached its highest level during the day at 80.63 since the opening of trading at levels of 80.23 and its lowest level during the day at 80.19.
On the other hand gold plunged and is currently trading at 1,641.74 $ while crude oil is currently narrow trading after the report of the Energy Agency of America, which showed a rise in oil inventories that exceeded expectations to currently trade around $106.48 a barrel.
However as a result of technical movements the euro consolidating on the four-hour scale and the one-hour chart and is forecasted to show later on an incline to the downside according to the one-hour and four-hour stochastic oscillator with in fact so far the EUR/USD pair trading around $1.3027 while recording the highest level of $1.3089 and lowest level of $1.3010. The trading range for today is among key support at 1.2840 and key resistance at 1.3250.
The British Pound is narrow trading as well throughout the one-hour scale driving accordingly the GBP/USD pair to trade around $1.56714 and therefore shows mixed signs on different time charts while recording the highest level of $1.5742 and lowest of $1.5648. The trading range for today is among key support at 1.5460 and key resistance at 1.5880.
Finally, although the USD/JPY pair rose strongly throughout the day it is forecasted to plunge up to the downside according to the one-hour and four-hour momentum indicators with the USD/JPY pair narrow trading presently and trading around ¥83.62 while recording the highest level of ¥83.81 and lowest levels of ¥82.94. The trading range for today is among key support at 82.00 and key resistance now at 85.00