Markets Trading in Narrow Ranges

Daily Forex Fundamentals | Written by Crown Forex | Dec 08 08 15:07 GMT |

A light week but optimism is still fulfilling markets, the European and the Asian indices inclined in the early morning retrieving back some of the losses that was seen last week, where Obama the new elected president is preparing a fiscal plan which could bolster the US economy and mitigate the ongoing turmoil. Today markets lacked any major fundamentals and news that could affect the its movements, as the movement seen is considered to be a pure technical one; the Euro inclined in the European session to record a high of 1.2915 as its currently trading at 1.2904 levels, a resistance will seen at 1.2944 levels. The British pound managed to incline against the US dollar, where it recorded a high of 1.5046 but retrieved back again to currently trade at 1.4864 levels, an upside potential is seen for the pound according to the technical indicators. The US dollar is trading in narrow ranges but it managed to incline slightly against the Japanese Yen where the optimism in markets increased slightly the risk appetite. The pair recorded a high of 93.90 but retreated back to trade currently at 93.18 levels. Crown Forex disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.