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EUR Trading Outlook (22-02-2011)

The Euro (EUR) held up better than most in the risk off trading environment as German IFO improved to record highs in February to 111.2 vs. 110.3 previously. Support was found just under 1.3700 and remained stable in the US session. Overall the EUR/USD traded with a low of 1.3646 and a high of 1.3727 before closing the day around 1.3680 in the New York session. Looking ahead, March Consumer Sentiment forecast at 5.8 vs. 5.7 previously.

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