After the greenback proved its ability to strengthen during this week following some positive data, moving away from its lowest levels in fifteen months seen on the 26 of November, when the dollar index reached to 74.16 as the rally started from 89.60. And now the question is will the majors perform a correction movement against the dollar? As the greenback managed to rise for the third week in a row.

The euro against the dollar rose during the Asian session after significantly falling the previous day recording the highest at 1.4412 and the lowest at 1.4306. Now the pair is trading around 1.4384 levels, between 1.4380 and 1.4440. Today Germany will release its producer price index which are expected to rise, as well as the IFO report. As for Europe, the economy will release today read the current account and the trade balance expected to show shrinking in the surplus, thereby might affect the pair movement today. The hourly and daily momentum indicators point that the pair is within an oversold area, as for the 4 hours momentum indicators they indicate the pair might bounce back from an oversold area. The pair today may trade around 1.4580 if it breaches the 1.4520 levels, and may trade around 1.4265 if it breaches the 1.4330 levels.

The pound against the dollar also rose during the Asian session after significantly falling the previous day recording the highest at 1.6220 and the lowest at 1.6136. Now the pair is trading around 1.62179 levels between 1.6140 and 1.6200. Today UK will release its M4 money supply index which is expected to decline, as well as the final reading for the total business investments and big banks mortgage approvals. The hourly and daily momentum indicators point that the pair is within an oversold area, as for the 4 hours momentum indicators they indicate the pair might bounce back from an oversold area. The pair today may trade around 1.6110 if it breaches the 1.6140 levels, and may trade around 1.6330 if it breaches the 1.6260 levels.

The dollar against yen continued the previous day path at the beginning of the Asian session recording the highest at 89.91 and the lowest at 88.80, before the Japanese central bank's decision to maintain the interest rates at 0.1% during their last meeting of this year, especially in light of the increasing deflationary risks as well as the rising of the yen which reached its highest level in 14 year against the dollar at the end of last month. Now the pair is trading around 89.62 levels between 89.20 and 89.65. The hourly and the 4 hours momentum indicators point that the pair is within an overbought area, as for the daily momentum indicators they indicate the pair might perform a negative overlap in an overbought area. The pair today may trade around 90.70 if it breaches the 90.10 levels, and may trade around 88.20 if it breaches the 88.80 levels.