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EUR Trading Outlook (15-05-2012)

The Euro (EUR) the EUR/USD broke 1.2900 at the open in Asia as it looked like there will be no Greece deal over the Weekend and the selling continued overnight as ministers in Europe noted that Greece can leave the EU and that no aid will be coming unless a government is formed. EUR/GBP was big news break below the 0.8000 in multiyear new lows. EUR/USD is grinding lower but very slowly with techs noting 1.2700 the bear’s target.

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