EUR Trading Outlook (08-12-2010)

The Euro (EUR) reacted to the Dollar strength and weakness hitting day highs in Europe before reversing sharply in the US session prompting some technical analysts call for another test of 1.3000 in coming days. German October Industrial Orders came in at 1.6% vs. -4% previously m/m. EUR/USD traded with a low of 1.3235 and a high of 1.3402 before closing at 1.3260. Looking ahead, October German Trade Balance is forecast at 15 vs. 15.6bn previously.

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