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Euro-US Dollar Week Ahead Forecast: Looking for Confirmation that the Losses are Done

From poundsterlinglive.com

The Euro-to-Dollar exchange rate endured its strongest weekly advance since November last week but the recovery road is likely a long and winding one, implying choppy trading ahead for EUR/USD over the coming days. The Eurozone's single currency lifted from lows near $1.17 in holiday trade on Monday to eventually overcome the 1.19 handle; it is found at 1.1890 at the time of publication on Monday. Euro gains were the strongest since the week ending November 23 and the immediate aftermath of the U.S. election but came amid strong indications that they were mostly an act of profit-taking by investors who'd been spooked ... (full story)

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  • Category: Fundamental Analysis