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EUR Trading Outlook (29-11-2010)

The Euro (EUR) remained under pressure for most of the day as traders were happy to sell the single currency while details of the Irish bailout was worked out. Support was found at 1.3200 but the market is already focused on Portugal on denied reports that EU officials were pressuring the Portuguese government to take a bailout. EUR/USD traded with a low of 1.3199 and a high of 1.3365 before closing at 1.3236. Looking ahead, November Consumer Sentiment forecast at -10 vs. -11 previously.

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