EUR Trading Outlook (22-10-2012)

The Euro (EUR) the EUR/USD held up better than most as the mood soured on Friday with the single currency able to hold above 1.3000 and remain bullish technically. Buyers will quickly need to reclaim control of the major with a break and hold below 1.3000 potentially leading to more selling. The lack of progress made at the EU summit while not surprising is putting a lid on the upside for now.

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