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When Promises Meets Reality, EUR/USD Falls
A lot of cold water has been spilled on the high hopes for a quick and comprehensive solution for the European debt crisis. With less expectations from the upcoming summit and from a Chinese rescue, EUR/USD loses the critical resistance line it struggled to conquer. What’s next? Update. Promises When Merkel and Sarkozy promised to provide a Grand Plan last week, the sun was shining. Euro/dollar climbed around 500 pips and most. The biggest achievement came at the end of the week when the pair managed to cross the critical 1.3838 line that capped it very nicely. In the G-20 meetings over the weekend, ... (full story)