EUR Trading Outlook (08-02-2012)
The Euro (EUR) the EUR/USD found support at 1.3100 and surged to 1.3270 on the Greece austerity news before consolidating the gain in Asia. The mood is improving and we are looking to the topside as fears continue to ease that the debt crisis will spread to other larger European countries. In US stocks, DJIA +33 points closing at 12878, S&P +2 points closing at 1347 and NASDAQ +2 points closing at 2904. Looking ahead, Greece negotiations are expected to produce fresh headlines.
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