So far the Union currency gained momentum throughout the currencies market as one hand cheerful data has been released from the European Union with Germany's trade balance; the strongest European economy, showing a surplus of actually 18.9 billion of euros, a clear hint that the economy is strengthening.
While that on the other hand the it is strongly speculated that the region's debt crisis would actually not prevent the European Central Bank from increasing its interest rates, which accordingly helped the euro to rise against the dollar and rebound from its two-day drop.
As a result, the euro-dollar pair is inclining on the daily scale but narrow trading on the one-hour and four-hour charts with the Union currency now trading around 1.4397 recording a high of 1.4441 and a low of 1.4339 with mixed signs shown throughout several time-scales momentum indicators.The trading range for today is among the major support at 1.4330 and the major resistance at 1.4725.
However the pound-dollar pair is inclining throughout the day and on the one-hour and four-hour charts along with a showed tendency throughout the momentum indicators on these same time-charts of a further incline to the upside with the royal pound trading around 1.6371 recording a high of 1.6405 and a low of 1.6341.The trading range for today is among the major support at 1.6200 and the major resistance at 1.6575.
As for the dollar-yen pair, it is currently consolidating on technical movements with the low-yielding currency yen trading around 80.75 recording a high of 80.83 and a low of 80.51, knowing that the pair is forecasted to start climbing to the upside significantly according to the four-hour stochastic oscillator.The trading range for today is among the major support at 78.40 and the major resistance at 82.10.