EUR Trading Outlook (03-05-2011)
The Euro (EUR) the market broke tested 1.4900 but reversed sharply from the key level, leading the rest of the market lower in an interesting technical signal. Many are looking for the ECB to provide the bulls fuel for a 1.5000 test as the differing monetary policy is exposed. Overall the EUR/USD traded with a low of 1.4760 and a high of 1.4904 before closing the day around 1.4825 in the New York session. Looking ahead, March PPI forecast at 0.6% vs. 0.8% previously.
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