A rather quiet consolidatory start to the week.
January 21, 2013 Leave a comment
Euro/USD: With US markets on holiday today the Euro traded relatively quietly as recent gains continued to be digested. From an opening in the 1.3305 area values traded sideways for the entire session with rally attempts being restricted by resistance in and around the 1.3332 zone. This consolidatory day finally closed around 1.3315.
GBP/USD: The GBP downward cycle paused for breath today as recent sharp falls were digested. After opening in the 1.5852 area values tried to improve but quickly ran into resistance in the 1.5894 region and the market slipped again to finish a relatively quiet day at 1.5850.
Euro/JPY: Recent Euro strength was consolidated and corrected today and after opening at 11962 values slipped towards the 11888 area before fresh support was uncovered. A small recovery in the afternoon saw the market finally close around 11948.
GBP/Euro: Recent sharp GBP losses were digested today as the market consolidated between support in the 1.1895 and resistance in and around the 1.1937 region. This sideways performance finally came to a close in the 1.1907 zone.