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EUR Trading Outlook (06-04-2011)

The Euro (EUR) fell to 1.4150 in Europe but reversed aggressively after the strong US stocks to close above 1.4200. The Dovish FOMC Minutes should continue to support the Euro ahead of the ECB meeting tomorrow where a raise is now consensus. Overall the EUR/USD traded with a low of 1.4150 and a high of 1.4247 before closing the day around 1.4225 in the New York session. Looking ahead, February Industrial Orders forecast at 0.6% vs. 1% previously.

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