EUR Trading Outlook (05-01-2011)

The Euro (EUR) was strong in Europe testing above 1.3400 before once again come under heavy selling pressure to fall quickly back below 1.3300. EUR/GBP was a major mover as well falling sharply as the GBP found support. &nbsp EUR/USD traded with a low of 1.3290 and a high of 1.3436 before closing at 1.3305. Looking ahead, German December PMI Services forecast at 58.3.

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