EUR Trading Outlook (17-10-2012)

The Euro (EUR) the EUR/USD broke 1.3000 in the European session and then pushed to 1.3100 in the US session. There is still some uncertainty regarding Spain and Greece and we should hear more from this at the EU summit on Thursday. Spanish rumors are suggesting a credit line could be created while they review a larger bailout. German insistence on austerity measure to countries that receive money is delaying the process.

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