Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

The market witnesses an increasing trading to investors by the end of the week

Published 09/17/2010, 02:08 AM
Updated 09/17/2010, 02:12 AM

The dollar is trading near of a four-week low against the euro, before date forecast to show the U.S. U.S. consumer confidence improved, which increased the risk trading of investors, and pushed investors to go away from the safe heaven currencies. On the other hand, the Japanese currency Yen reaches five-week Low, while the dollar/yen is trading around 85.70. 

The euro inclined against the yen and the dollar during the Asian session, which is trading near of the resistance 1.3130, recording a high of 1.3108 and a low of 1.3060, and now the pair trades around 1.3104. The daily and four hours momentum indicators show the pair is within an overbought area, which might push the pair towards the 1.3104 level again. 

The pound rose against the dollar, which the pair trading above the resistance 1.5585. The pound recorded a high of 1.5645 and a low of 1.5594. The pair now trades around 1.5637. The daily momentum indicators support the pair’s upside movement, while the four hour momentum indicators show the pair is in an overbought area. 

The level 85.70 is the maximum level that Japan's government pushed its currency against the dollar after intervention the currency markets this week. The dollar/yen pair declined, the pair recorded today a low of 85.58 and a high of 85.88 and now it trades around 85.73. The daily and four hours momentum indicators show the pair is in an overbought area, which has a negative effect on the upside movement. 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.