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EUR Trading Outlook (21-02-2013)

The Euro (EUR) the EUR/USD was crashed lower overnight in a very bearish technical move with the FOMC minutes adding to selling pressure from concern over France’s Budget and potential Cyprus downgrade. Also sweeping the market was rumors of a large commodity house in trouble as Gold plunged. No substance has come of the rumor so far and is more likely a story to fit the large gold moves. Risk was off though and EUR/JPY led the market lower.

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