Forex Pairs: Market Overview Today.

The Euro retracted 13 pips from 7 months high and trades at 1.0748

Euro-Dollar reached 1.0762, breaking a 7 months record. Later, it lost 13 pips and is now trading at 1.0748.

United States Crude Oil Inventories data will be released today at 15:30 UTC, with an expected decline to -2.24 million.

Meanwhile, United States API Weekly Crude Oil Stock came out at 14.87 million, while a consensus of analysts was expecting -2.38 million. United States 3-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.977, while the previous figure was 4.093.

Trend and momentum analysis indicates that investors are seeking long positions as EUR/USD price action surged above +100 -- a key CCI threshold indicating an imminent bullish trend. Price action overcame a known Fibonacci resistance level at 1.0748 by around 1 pips with prices hammering out a 1.073 - 1.0762 session range. Asset volatility analysis shows that Bollinger Band? analysis indicates that current price action is approaching the upper band at 1.0759, thereby suggesting that Euro-Dollar is becoming overvalued. Support/Resistance levels obtained from chart analysis indicate that the Euro broke through the 1.0746 resistance, climbing 2 pips above it.

Overall, while the Euro has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

A look at other currencies also shows bullish price action as EUR/JPY goes up 0.23% to trade around 142.25. GBP/JPY is up 0.23%. GBP/NZD rises 0.2% to trade around 1.9092.

Positive indicators for Euro-Dollar are expected going forward as as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of -2.24 million, following on from the preceding figure of 1.69 million. New data is set to be published today at 15:30 UTC.

Furthermore, the market is looking at Euro Zone ECB Economic Bulletin will be released tomorrow at 05:00 UTC. Germany 10-Year Bund Auction is scheduled for today at 10:30 UTC. United States Core Consumer Prices figure is projected at 0.3%. It previously stood at 0.2%; data will be released tomorrow at 13:30 UTC.

Euro-Dollar now trading 10.65% above its 3-month low of 0.9596.

Mixed sentiment sees Sterling-Dollar currency pair ending the session broadly flat; establishes tight 1.214 to 1.2179 range

Sterling-Dollar trades at 1.2157 after gaining 9 pips (0.08%).

United States Crude Oil Inventories data will be released today at 15:30 UTC, with an expected decline to -2.24 million.

Meanwhile, United Kingdom BRC Retail Sales Monitor (YoY) (Dec) came out at 6.5. United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of 14.87 million, while the previous figure was 3.30 million. United States 3-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.977, while the previous figure was 4.093.

Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as Sterling-Dollar price action surged above +100 -- a key CCI threshold indicating an imminent bullish trend. Fibonacci-focused traders would be interested to note that Sterling-Dollar is oscillating around the key Fibonacci resistance level of 1.217. Asset volatility analysis shows that Bollinger Band? analysis indicates that current price action is approaching the upper band at 1.22, thereby suggesting that the Pound is becoming overvalued. Technical chart analysis shows Sterling-Dollar reversed direction at 1.2164 resistance zone and retreated back 6 pips below it.

Overall, while Sterling-Dollar has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Other currencies are also rising as EUR/JPY added 0.23% to its value, now trading at 142.25. GBP/JPY increases 0.23% to trade around 160.95. GBP/NZD is up 0.2%.

Positive indicators for Sterling-Dollar are expected going forward as today at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -2.24 million from the preceding figure of 1.69 million.

Also worthy of note, United Kingdom BoE MPC Member Mann is expected tomorrow at 17:00 UTC. United States Core Consumer Prices figure is projected at 0.3%. It previously stood at 0.2%; data will be released tomorrow at 13:30 UTC.

Sterling-Dollar is now trading 19.31% away from its significant low of 1.0181 first tested 3 months ago.

Strong sentiment sees Dollar/Yen posting 0.19% gain

Small gain for Dollar/Yen at 132.44 after ranging between 132.04 and 132.58 today.

United States Crude Oil Inventories data will be released today at 15:30 UTC, with an expected decline to -2.24 million.

At the same time, United States API Weekly Crude Oil Stock came out at 14.87 million, while a consensus of analysts was expecting -2.38 million. United States 3-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.977, while the previous figure was 4.093.

Dollar/Yen made an initial breakout above its 5 day Simple Moving Average at 132.37, a potential indicator of a newly emerging bullish phase. Despite this, Dollar/Yen price action is currently oscillating around the 132.28 resistance level with prices moving above and below several times during the session.

Overall, looking at the technical analysis landscape, it seems Dollar/Yen might continue pointing upwards in the short term.

Other currencies are also rising as having closed the previous session at 141.92, EUR/JPY is up 0.23% today to currently trade at around 142.25. Having closed the previous session at 160.58, GBP/JPY is up 0.23% today to currently trade at around 160.95. GBP/NZD is up 0.2%.

Positive indicators for Dollar/Yen are expected going forward as as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of -2.24 million, following on from the preceding figure of 1.69 million. New data is set to be published today at 15:30 UTC.

Also worthy of note, Japan Current Account n.s.a. (Nov) scheduled to come out today at 23:50 UTC. Japan Adjusted Current Account will be released today at 23:50 UTC.

As things stand, Dollar/Yen is 11.93% away from a significant high of 150.1, first set 2 months ago.?