Dollar Back into Game...

Back under 1.4700 levels, looks like those levels are the most convenient at the time being with investors not thinking about buying the Euro till they see whether the zone growth will pick up pace or not. It's obvious that the US dollar is stronger than Euro as the feds began to restore back the long lost confidence. Markets are waiting for the ZEW reading, with expectation that confidence will continue heading south as analysts expect that Union will face more complications not just what they are witnessing at the time being. The EUR/USD pair is now trading at 1.4681 which is considered to be a strong level that could support the pair, though if breached the pair will be heading toward 1.4614 levels especially if the ZEW reading came in worse than expectations.

The gloomy outlook in the Royal economy won't be boosting the GBP/USD pair; as our calendar still lacks any major fundamentals from the Kingdom the movement will be affected by a strengthen dollar or weakening one, yet the pair might be facing a support level at 1.8591 levels which is followed by 1.8522 levels.

The USD/JPY continued its plunging behavior to record a low of 109.67 yet it returned back to 110.0 levels, as the pair is still waiting for the US housing and inflation data to see if inflation will remain elevated preventing the feds from hiking rate; the support a head of the dollar still at 109.69 levels and resistance at 110.56 levels.

Crown Forex

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