EUR Trading Outlook (10-07-2012)
The Euro (EUR) some supportive comments from ECB members and a lack of follow through on the downside prompted profit taking on Monday with the single currency closing above 1.2300. The outlook is still negative while bond yields remain high and the EU members ratify the new bailout and specifics of just how it will work are ironed out. Euro Crosses are receiving attention with EUR/GBP and EUR/AUD still oversold and some speculators are trying to pick the bottom.
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