Euro consolidates after an 11-month low

Currently throughout the US session the major pairs along with the dollar and the yen are consolidating so far mainly on pure technical and correctional after euro rose from its lowest in almost a year as speculation cooled that that the European Central Bank will add further monetary stimulus when it meets next week.

Now the euro is presently narrow trading on the four and one-hour charts as a result of the current technical movements sending in fact the EUR/USD pair to trade up around $1.3194 while recording the highest level of $1.3210 and lowest level of $1.3153, knowing that the pair may incline but slightly as mixed signs are seen throughout the four-hour and one-hour momentum indicators.

As for the British Pound, it is also consolidating on these correctional movements driving the GBP/USD pair to trade around $1.6576 while recording the highest level of $1.6606 and lowest of $1.6537 and is most probably going to remain at consolidated levels as mixed signs; buying and selling, are also witnessed at several time scale within the stochastic oscialltor.

Finally, as a result of mixed signs and a weak dollar witnessed throughout the momentum indicators at different time charts the USD/JPY pair is falling slightly to trade around ¥104.07 while recording the highest level of ¥104.17 and lowest levels of ¥103.75.