EUR Trading Outlook (16-02-2011)

The Euro (EUR) GDP missed expectations and hurt sentiment in Europe with Q4 GDP at 0.3% vs. 0.4% forecast although the February German ZEW survey did improve to 85.2 vs. 82.8 previously. Support was found under 1.3500 however and the pair finished just above. Overall the EUR/USD traded with a low of 1.3459 and a high of 1.3552 before closing the day around 1.3490 in the New York session.

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