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Fundamental Currencies Comments
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The green Benjamin loosing momentum…
Tue, Nov 3 2009, 19:34 GMT
by ecPulse.com analysis team
So far, the green Federal currency is weakening, permitting the pound and the euro to gain momentum, as traders left the dollar and are targeting the yellow precious metal pushing it to a record high, after that the International Monetary Fund had sold around 200 tones of gold to India's Central Bank for $6.7 billion, corroding accordingly the appeal of the dollar as a refuge.
Consequently, the euro-dollar pair is climbing to the upside, having the euro advancing considerably against the dollar and trading so around 1.4722 recording a high of 1.4810 and a low of 1.4624 with a resistance at 1.4770 and a low of 1.4684, knowing that the pair is forecasted to continue its incline according to the four-hour momentum indicators.
As for the pound-dollar pair, it is inclining as well as the euro-dollar pair and is showing a tendency to rise to the upside according to the four-hour stochastic-oscillator as the dollar weakened, having the royal pound trading at 1.6430 recording a high of 1.6453 and a low of 1.6259 with a resistance at 1.6515 and a support at 1.6361.
Now, turning to the dollar-yen pair, it is slightly inclining and showing a tendency to rise to the upside on the four-hour momentum indicators, having the pair trading at 90.53 recording a high of 90.57 and a low of 89.85 with a resistance at 90.97 and a support at 89.65.
Published on Tue, Nov 3 2009, 19:35 GMT
Archive
- Majors declined ahead of the U.S GDP
Published On Tue, Nov 24 2009, 07:28 GMT - Stocks, commodities gain; Dollar declines
Published On Mon, Nov 23 2009, 19:02 GMT - Dollar and Yen continue their fall
Published On Mon, Nov 23 2009, 16:32 GMT - Federal currency extends losses
Published On Mon, Nov 23 2009, 11:12 GMT - Majors strengthened against the dollar
Published On Mon, Nov 23 2009, 06:18 GMT
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