Technical movements take over the major currencies current trading…

By @ibtimes on

So far technical movements took over the present major currencies trading to have the major pairs consolidate after that the Union currency climbed actually to a four-month high against the green Benjamin throughout the prior EU session as the European Central Bank President Jean-Claude Trichet stated out that the ECB may raise interest rates next month.

As a result of these technical movements, the euro-dollar pair is now narrow trading with the Union currency trading around 1.3930 recording a high of 1.3970 and a low of 1.3831 but forecasted to drop according to the four-hour stochastic oscillator. 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 pair, it is consolidating as well due to current technical movements and actually shows a tendency to rise to the upside according to the one-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 narrow trading but strongly projected to start plummeting according several time charts momentum indicators with the low-yielding yen now trading around 82.41 recording a high of 82.51 and a low of 81.70. The trading range for today is among the key support at 81.05 and the key resistance at 84.25.

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