EUR Trading Outlook (07-02-2011)

The Euro (EUR) was under pressure as the largest currency pair expressed the USD strength. The sharp pullback over the last two days has put the rally in question with a break of 1.3500 signally its breakdown. EUR/JPY held up well as stock markets and risk appetite remains strong. EUR/USD traded with a low of 1.3544 and a high of 1.3678 before closing at 1.3588. Looking ahead, February Sentix Index forecast at 12.5 vs. 10.6.

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