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EUR Trading Outlook (11-12-2012)

The Euro (EUR) the EUR/USD opened lower after Italy’s Monti resignation timeline was announced but the selling was short lived and we have closed New York near the key 1.2950 resistance.
EUR/JPY is struggling to find support and slipped to Y106 before stabilizing. Many traders missed the first leg of the EUR/JPY move higher and are waiting for a dip lower.
The Sterling (GBP) was stronger grinding higher to 1.6100 before running out of steam and settling back to 1.6070.
The support above 1.6000 last week and yesterday has the topside in focus and we could retest the 1.6130 highs from last week and open up the 2012 highs near 1.6300.
Looking ahead, December German ZEW forecast at 012 vs. -15 previously.

Back to EUR Trading Outlook Archive

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