The Asian financial markets opening prices for the Euro's decline reflected the Greece election victory of the leftist Syriza better known to be anti-austerity group. The Euro started off with a lower opening price @1.1145 with a low apparently reaching @1.1095 where short-covering price action are now seen. With a seesion price recovery at the early European session working @1.1250. A normal price swing seen as the initial objective has now been achieved.
This has been a similar price action with the EURGBP cross with an opening price @0.7425 While Cable held steady at the same price level in Asian session. This is to no surprise that price reactions after the lows would we find a reasonable corrective move especially coming from over extended levels on both the European majors.
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