So far, a strong correctional movement is occurring in the overall trading after that pairs reached their high in the previous European session as confidence was spread after a slight gain was witnessed through stocks and the IFO Institute reported an unexpected rise in the German business confidence for the first time in eight months.
Consequently, the euro-dollar pair remains on climbing due to the unexpected rise of the overall IFO German index. Still the pair is now slightly inclining due to the correctional movements that are taking place having the euro so far traded at 1.3226 recording a high of 1.3329 and a low of 1.3136 along with a resistance level detected at 1.3311 and a support level at 1.3159, which are levels in which the pair is trading as mixed signs are seen through the momentum indicator at different time scales.
The pound-dollar pair is slightly inclining as well with a royal pound traded at 1.4126 recording a high of 1.4241 and a low of 1.3927 with a strong resistance witnessed at 1.4229 and a support at 1.4034, knowing that a fall of the pair is forecasted since the pair was trading in an over-bought on a short-term scale as seen through the momentum indicators.
As for the dollar-yen pair, it is falling deeply with a yen advancing strongly against the dollar due to a strong correctional movement. Therefore, the yen is traded at 89.01 recording a high of 90.06 and a low of 88.87. Furthermore, a resistance level could be seen at 89.33 and a support level at 88.82 and the pair has a strong tendency to slip further to the downside as the pair is declining as observed through the momentum at different time scales.