UK Out of the Markets

Daily Forex Fundamentals | Written by Crown Forex | Aug 25 08 07:00 GMT |

And again the European currency breached the upside channel that was created in the past week, plunging down to 1.4720 levels after it after reaching a high of 1.4894. With our calendar lacking any major fundamentals for today the Euro will be facing a support at 1.4695 levels but it reverses back its movement the Euro has a slight to escalate higher against the Us dollar though the playground is open for the bears today.

Today the Britons are taking a break, with the summer bank holiday and the bank are all closed, taking a break from the hectic movement taking place in the markets, and according the gloomy outlook the Royal currency plunged heavily to 1.8430 levels, as according to technical indicators the pair falls in an extremely oversold area.

Finally USD/JPY pair retrieved back its strength surging higher to 110.00 levels, supported by expectation that the plunging oil prices will be boosting the manufacturing sector in the States, the pair remains to face 110.66 levels as if breached more confirmation will be obvious that the US dollar will beat the Yen reaching above to 111 levels and higher.

Crown Forex

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