Euro ends the week on a positive note.
July 27, 2012 Leave a comment
Euro/USD: The Euro enjoyed a positive end to the week and after initial weakness uncovered good support in and around the 1.2242 area values rallied impressively for the balance of the day. As further layers of resistance were breached peaks for the session were established at 1.2377 before finally closing in the 1.2360 region.
GBP/USD: After tracking sideways in quiet conditions for the early part of the morning trapped between resistance at 1.5700 and support at 1.5666 the GBP broke sharply to the upside with little selling being encountered until the 1.5769 zone. Profit taking then trimmed gains to finish the European week at 1.5714.
Euro/JPY: The Euro remained quite positive today and with early dips being cushioned by support at 9654 the market rallied impressively for the balance of the session. Peaks for the day were established in the 9730 region before finally closing in and around 9707.
GBP/Euro: A further volatile session with early GBP strength running into a wealth of selling in the 1.2822 area from where prices went sharply into reverse and fell away alarmingly. Little support emerged until 1.2701 with the European session only closing marginally above here at 1.2723.