Tuesday, February 8, 2011

Forex news:Renewed confidence has brought loss of Yen and the Dollar

Dollar and the yen fell against major currencies today as investors increased appetite for risk after better than expected data on the industrial sector of Germany, while confidence in the U.S. has improved.The euro rose today against the dollar during the Asian session, trading between the maximum and minimum of 1.3635 1.3571. Couple faces resistance 1.3575, while the full-time and four-Momentum points to trade into oversold region.The pound also rose today against the dollar, trading between the maximum and minimum of 1.6106 1.6152. Couple finds resistance at 1.6180, while the daily Momentum gives signals to the market.
The dollar fell slightly against the yen, trading between the maximum and minimum of 82.36 82.20. Couple facing support 82.00, while full-time and four-Momentum points to trade in the overbought area, helping the downward movement.

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