USD Awaiting Housing Data

The dollar is gaining in the markets on anticipations that the draw back in oil prices will help improve growth in the United States therefore will cause their GDP to pick up pace. Also another support to the rising greenback is the housing data that is scheduled to come out today with expectations showing an improvement in the housing sector, and this will obviously boost the dollar further since the housing sector was the one responsible behind the downfall of the U.S. economy.

The EU Zone is fundamental free as the euro remains weak in the markets due to the outlook for the European economies all deteriorating. The single currency is gaining on technical movements temporarily as the momentum indicators on a four hour charts are providing us with an upside wave. The EUR/USD is currently traded at 1.4767 while recording a high of 1.4782 and a low of 1.4695 as we see a support at 1.4660 and a resistance at 1.4825.

Today the pound remains depreciated in the markets as the UK markets are off due to the Summer Bank Holiday while it can not find much support to help appreciate it since the performance of the British economy is steady struggling. Like the euro the sterling is also moving based on technical movements as it tries to breach the resistance of 1.8505 before reaching its next target at 1.8605. The GBP/USD is traded at 1.8497 while recording a high of 1.8519 and a low of 1.8404.

The yen is trying to pull back and gain strength against the USD yet staggering to break the support of 109.40, while there is a resistance at 110.40. The USD/JPY is currently traded at 109.83 while recording a high of 110.28 and a low of 109.79.

Crown Forex

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