EUR Trading Outlook (02-04-2012)
The Euro (EUR) the EUR/USD was strong but quiet in a 50 pip range above 1.3300 failing to retest 1.3380. The market is torn as to future direction with the USD strength countering the post Eurozone Debt Crisis Euro recovery. The ECB meeting this week will be critical for the central banks outlook as over the weekend they expanded the EU bailout fund to the 1trn to further sure up confidence. A break of 1.3380 will open up the 1.3500 multi-month resistance.
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