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EUR Trading Outlook (24-07-2012)

The Euro (EUR) the crisis continued to dominate headlines out of Europe with support not seen on the EUR/USD until just above 1.2000. The big figure is a natural target for the bears and could be tested later this week if news out Greece is bad as expected. The troika will begin its inspection of the Greece finances today and may withhold aid if the reforms agreed to have not been implemented. IMF & Germany have both stated they will not be easing the conditions for Greece to receive aid so this inspection is becoming more important.

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