|09-03-2014, 05:24 AM||#1|
Pairs consolidate after a strong dollar
Currently throughout the US session the major pairs along with the dollar and the yen are consolidating so far mainly on pure technical and correctional after the dollar climbed to its highest level since January amid speculation an improving U.S. economy will bolster the case for the Federal Reserve to raise interest rates next year sooner than some traders anticipate.
Now the euro is presently narrow trading on the four and one-hour charts as a result of the current technical movements sending in fact the EUR/USD pair to trade up around $1.3133 while recording the highest level of $1.3137 and lowest level of $1.31106, knowing that the pair may incline but slightly as mixed signs are seen throughout the four-hour and one-hour momentum indicators.
As for the British Pound, it is also consolidating on these correctional movements driving the GBP/USD pair to trade around $1.6490 while recording the highest level of $1.6614 and lowest of $1.6482 and is most probably going to remain at consolidated levels as mixed signs; buying and selling, are also witnessed at several time scale within the stochastic oscialltor.
Finally, as a result of mixed signs and a weak dollar witnessed throughout the momentum indicators at different time charts the USD/JPY pair is falling slightly to trade around ¥105.12 while recording the highest level of ¥105.22 and lowest levels of ¥104.33.
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