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technical analysis

Equity markets continued to post modest gains as some of the major indexes post new highs. The S&P500 index was seen trading at an intraday high of 3234. Economic data was sparse on the day, with London and New York closed on account of Boxing day bank holiday. On the economic front, data was relegated to Japan’s housing starts and weekly unemployment claims from the United States.

Euro Holds Steady Despite Dollar Declines

The euro currency was seen trading steady on Thursday. The U.S. dollar index fell sharply to lows of 96.54 on Thursday before recovering later in the day. However, the flows in the euro currency remained calm. The ECB economic bulletin will be coming out later today but it is unlikely to see any impact on the euro.

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EURUSD Continues to Trade Flat

The currency pair remains steady within the corridor of 1.1100 and 1.1072. The Stochastics oscillator is currently oversold indicating a po...

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