2013.01.17 : Trading in Mixed Market
EUR/USD
The pair makes intraday trading difficult and shows no signals of a clear direction as yesterday it hovered almost all day around the S/R zone of 1.3290 – 1.3300. The US Core Consumer Price Index posted a small decrease from an expected value of 0.2% to 0.1% but not a lot of volatility was generated at the time of release and overall we had a slow, ranging and hard to trade session.
Technical Outlook
Fundamental Outlook
GBP/USD
Throughout the day the pair had an overall bearish movement and even appeared to break the strong support formed at 1.6000. At the moment price action offers no clear indication about a clear break or a false one because the pair is hovering close to the mentioned S/R level.
Technical Outlook
Fundamental Outlook