The beginning of the trading week was pretty active, just as it had been predicted. At the same time some Forex market participants were waiting for good situation to open a position. Due to that some currency pairs, like EUR/USD didn’t experience great changes in comparison with the open point. During the first part of the trading day EUR/USD had been rising up, but then it just fell down almost to open point and finished the Forex day at 1.4148.
Partially that was caused by the news economic from Europe, especially from Athens where the ask for public bonds was 4 times as big as bid! At this rate lots of market participants and Forex signals developers decided to invest into high-yield currencies. But by the end of the day EUR was brought down by the expectations of negative news from Greece, Ireland, Portugal and Spain to be published on Tuesday.
At the same time the British currency was going up, which was the good news for British market Forex participants. The expectations of GDP of the United Kingdom of Great Britain and Northern Ireland to grow pretty much were an excellent support for the British pound. So, GBP/USD was to reach the point of 1.6259 and to finish the Forex trading day at 1.6245.
On Tuesday, January 26, 2010, there are some very important news to be released almost in all parts of the world. For example, GDP change will be announced in Britain. Import price index and info about IFO Business climate are to be published in Germany and consumer confidence index & house price index gonna be published in the United States. So, EUR/USD is likely to fall down again and go to the point of about 1.4050 under the pressure of the news. GBP/USD might also roll down and reach 1.6150.
