26 Nov 2014 Forex Market Updates: Contrary to expectations of - TopicsExpress

26 Nov 2014 Forex Market Updates: Contrary to expectations of larger volatile moves, the in-line data releases from US, and profit booking in Dollar has limited the Dollar gains and has also kept volatility surprisingly to minimum. Euro (1.2470) moved above its 1.2450 resistance but was not able to clear 1.2470. The trend is still clearly down, with profit booking in Dollar gains helping it sustain above its supports. For the day, we expect it to trade in a range below 1.2500. Pound-Dollars (1.5702) is trading within its range of 1.5600-1.5750. We expect this range to continue through this week, probably with an upwards bias as profit booking in Dollar gains continues. Dollar-Yen (117.79) was unable to sustain above 118 mark was has drifted down. With markets looking to book gains ahead of year-end and after substantial run-up, is capping the move for now. We expect this range to continue for now.

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