Forex updates-The Major Currency Pair’s Movements

According to latest Forex updates the main pairs constantly moved forward during the overnight session, expanding the gains seen over the last few sessions. The majority of the gains came during the European session, as has been the case lately. The major currencies moved higher and broke above significant swing points, even though the S&P futures supplied only humble support tonight.

During the overnight session the Euro (EUR/USD) managed to find relatively strong momentum, regardless of the pathetic trading session experienced on Monday. The pair is now moving towards the 1.3650 area, the area which performed as a strong swing point in the past.

On Monday the Pound (GBP/USD) extended the commanding gains seen in the preceding day of trading. The pound rushed forward 140 pips tonight, totaling almost 300 pips gained in the last 24 hours of trading. Presently, the pound is trading at the highest evaluation observed since December 2008.

The Yen (USD/YEN) moved violently to break above the resistance trend-line that connects the 03/19 and the 04/28 dips during the overnight session. The yen produced a bullish engulfing pattern, which may provide some added power over the upcoming era.