So far, fears are spread throughout the currencies market ahead of the FOMC Minutes and as the ADP Employment Change for August came in at -298 thousand, which was worse than the forecasted reading of -250 thousand, illustrating that the world's largest economy remains weak, encouraging traders accordingly to target the low-yielding currencies; the dollar and the yen.
As a result, the euro-dollar pair is slightly declining and is forecasted to plunge further according to the one-hour chart stochastic oscillator, having the Union currency so far trading around 1.4286 recording a high of 1.4294 and a low of 1.4255 with a resistance at 1.4289 and a support at 1.4255.
As for the pound-dollar pair, it is plunging as well and shows a strong tendency to fall to a further extent according to the four-hour and one-hour momentum indicators, having the royal pound trading at 1.6260 recording a high of 1.6298 and a low of 1.6112 along with a resistance at 1.6277 and a support at 1.6246.
Now, turning to the dollar-yen pair, it is starting to slightly climb to the upside due to strong technical movements, having the low-yielding Japanese yen trading so far around 92.21 recording a high of 1.6298 and a low of 1.6112, knowing that a resistance level could be witnessed at 92.37 and a support level detected at 91.96
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