Today's Forex Signals

Feds decision yesterday in line with expectations albeit the comments made with reference to the economy improving lifted the greenback strengthening across the board today. Dow finished lower again and lower at time of writing in Europe. Asian stocks having a boost over night, Yen down from same information given from the Fed. Oil this morning trading higher at time of writing and if continues, could see a return to the $70 and $75 per barrel as uncertainty still remains. Data from the States later could see the stocks tumble further should the jobless claims come in worse than expected. Conversely, should we see an improvement, the risk aversion trades could see a lift.

For the Euro, need to break the support level of 1.3920 for a push to 1.39 figure, before yesterdays lows of 1.3890. Resistance at 1.3950 which if breaks and holds will see a return back to 1.3990/00. Await the US stocks for direction along with the jobless claims. Euro pound strengthening this morning heading towards the Tuesdays highs of 85.95/00, along with the cross with the Yen which would indicate that the preference would be to see a return to the 1.4020 level.

For cable, seen a sell off this morning hitting lows of 1.6240/45. Awaiting US opening for direction along with the jobless claims which if better than expected will give a boost back to the pound and 1.63 and 1.63.30/35 (38.2% fib level for the last two days). Support at 1.6250 which if breaks and holds, expect a move back towards 1.62/10. Euro pound struggling to break the current levels of 85.70, good selling opportunity back towards the 85.30 level (if breaks the 85.40 level)

Yen this morning being hit reference the comments made from the Fed regarding the 'improving economy'. Currently trading at 96 35/40. Head and shoulder pattern forming at current levels, which if breaks, will see a move back to the 95.90 level. Resistance at 96.60 which if breaks and holds, could see a move back towards 96.70 ahead of 97.20.