EUR Trading Outlook (06-06-2011)

The Euro (EUR) surged above 1.4600 late in the day after hitting day lows post US data. The market is positioned to resume the uptrend back towards 1.5000 with the Euro seen as passing the &lsquo Greece test&rsquo . The crosses are all very strong with EUR/GBP breaking above 0.8900. Overall the EUR/USD traded with a low of 1.4451 and a high of 1.4642 before closing the day around 1.4625 in the New York session. Looking ahead, June Sentix forecast at 9.3 vs. 10.9 previously.

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