The scenario currently in markets is the total opposite from yesterday, since the dollar is rising versus major currencies today, as a result of the Chairman of the Federal Reserve Bank, Ben Bernanke, stating that the bank is getting ready to make changes in the monetary policy, when the nation "has improved sufficiently", this supported the dollar in markets increasing its appeal against majors.
The euro is depreciating against the federal currency, not because of the euro's weakness, but because of the dollar's strength in markets; while the momentum indicators on the one-hour charts are providing us with a downwards trend. The EUR/USD is being traded at 1.4713 recording a high of 1.4794 and a low of 1.4703, while we see there is a resistance at 1.4755 and a support at 1.4696.
Turning to the pound, we see that it is losing ground versus the dollar, on anticipations that the outlook for the United Kingdom remains too fragile for the Bank of England to raise interest rates anytime soon, or withdraw their stimulus plan, even if it might trigger inflation on the long term. Lloyds Banking Group Plc lowered its expectations for the royal currency, and stated that a recovery in the nation will take a while before happening. The GBP/USD is being traded at 1.5913 between the support of 1.5891 and the resistance of 1.5970 at 1.5914, while the pair records a high of 1.6071 and a low of 1.5905. For the pair also, the momentum indicators on the one-hour chart are providing us with a downwards wave.
The yen is like major currencies; tumbling against the dollar's climb, while the pair is being traded at 89.23 between the support of 89.11 and resistance of 89.70, while recording a high of 89.44 and a low of 88.34. Contrary to other pairs, the momentum indicators on the one-hour chart are indicating an upside trend.
The euro is depreciating against the federal currency, not because of the euro's weakness, but because of the dollar's strength in markets; while the momentum indicators on the one-hour charts are providing us with a downwards trend. The EUR/USD is being traded at 1.4713 recording a high of 1.4794 and a low of 1.4703, while we see there is a resistance at 1.4755 and a support at 1.4696.
Turning to the pound, we see that it is losing ground versus the dollar, on anticipations that the outlook for the United Kingdom remains too fragile for the Bank of England to raise interest rates anytime soon, or withdraw their stimulus plan, even if it might trigger inflation on the long term. Lloyds Banking Group Plc lowered its expectations for the royal currency, and stated that a recovery in the nation will take a while before happening. The GBP/USD is being traded at 1.5913 between the support of 1.5891 and the resistance of 1.5970 at 1.5914, while the pair records a high of 1.6071 and a low of 1.5905. For the pair also, the momentum indicators on the one-hour chart are providing us with a downwards wave.
The yen is like major currencies; tumbling against the dollar's climb, while the pair is being traded at 89.23 between the support of 89.11 and resistance of 89.70, while recording a high of 89.44 and a low of 88.34. Contrary to other pairs, the momentum indicators on the one-hour chart are indicating an upside trend.
