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EUR Trading Outlook (28-04-2011)

The Euro (EUR) tested 1.4800 after Bernanke&amp rsquo s speech with the market pouncing on the differing monetary policy outlook. February Industrial Orders gained 0.9% vs. 1.0% forecast. The trend is quite strong and now has little resistance up to the medium term 1.5000 target. Overall the EUR/USD traded with a low of 1.4631 and a high of 1.4798 before closing the day around 1.4785 in the New York session. Looking ahead, April German Unemployment Change forecast at -30k vs. -55 k previously.

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