Forex Videos

The Wall Street finished in the red after Federal Reserve Chair Janet Yellen indicated that the Central bank was poised to raise Interest rates this year in line with expectations of the Wall Street. The Dow Jones fell by 0.29%, S&P 500 by 0.22% and NASDAQ lost 0.03% from its value. The US Dollar traded high against most major currencies after the release of relatively positive US Inflation data and investors await comments by Federal Reserve Chair Janet Yellen later in the day. Today is Memorial day in the United States so lower volatility can be expected. Gold fell slightly to close at $1,205 an ounce. Crude oil fell to close at $59.72 a barrel.
The Euro declined versus US Dollar to close at 1.1018 amid mixed US Consumer Pricing data and comments from key Central bankers on both sides of the Atlantic on the short term outlook of both economies. The EUR/USD is trading bearish with RSI below 50 and below the lower band of Bollinger bands. Holding these conditions may lead to a collapse to around 1.09. However rising towards upper band may lift the pair towards 1.12. Today there is a bank holiday in both Germany and France. The Pound fell by 1.1% versus US Dollar to close at 1.5490. According to 1 hour chart the pair is holding above the support at 1.5455. Crossing below the support may start a drop towards 1.43 areas while failure may push the pair to around 1.54. Today is also a bank holiday in the UK.