EUR Trading Outlook (05-10-2012)

The Euro (EUR) the move up to 1.3000 was fueled by stops being hit above 1.2970 and everyone hopping on to the long bandwagon after the ECB president reiterated he was ready to implement the OMT bond buying program if needed. The big move of late has been the EUR/JPY which has enjoyed heavy gains this week but the true test of strength will be the NFP tonight.

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