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EUR Trading Outlook (24-01-2012)

The Euro (EUR) the EUR/USD broke above 1.3000 as the short squeeze continued until finding resistance at 1.3050. The positive Greece news has been somewhat hampered in the Asia session Tuesday as comments from some EU officials they are not happy with the terms the private creditors have asked for. Looking ahead, January Manufacturing PMI forecast at 47.4 vs. 46.9. Services PMI forecast at 49.1 vs. 48.8 previously. Also, November Industrial Orders forecast at -2.1% vs. 1.8% previously.

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