Volatile session sees Euro finally close a little better.
November 13, 2012 Leave a comment
Euro/USD: A rather volatile and nervous session saw early Euro weakness uncover good buying interest in and around the 1/2661 area. This triggered a sharp rebound which took values to high of 1.2729 in the space of an hour although these gains proved unsustainable and the market swiftly returned to the 1.2671 area. Short covering also meant this fall was short lived and the European session finally came to a close around 1.2717.
GBP/USD: A very similar trading pattern to that of the Euro saw early GBP weakness cushioned by support in the 1.5857 area from where values recovered impressively to test the 1.5916 zone ahead of renewed resistance being uncovered. Profit taking then forced prices back down but only as far as 1.5869 before the buyers returned and the market finished the session around 1.5883.
Euro/JPY: A volatile session saw the USD swing sharply in both directions. After opening at 10114 values slipped away during the morning to test support in the 1033 zone before fresh buying interest was stimulated and values recovered lost ground in a short space of time to test 10125. Once again this proved unsustainable and values headed back down towards 10062 before finally closing in the 10102 region.
GBP/Euro: A day of two halves saw the GBP rally in the morning from an opening of 1.2491 to make a peak of 1.2549 before the bears then took control and forced the market lower during the afternoon. Support at 1.2498 came under fresh examination prior to finally closing in and around the 1.2502.