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5 EUR/USD Themes This Week – Outlook as Shorts Squeezed, ECB’s LTRO 2 & Bigger ESM Up Next
Last week saw the EUR/USD break a key resistance level (1.3315), pushing the pair out of its trading range over the last month, and putting the pair at a 3-month high. With the Greek bailout and private sector debt restructuring deal agreed to and set in motion, the EUR/USD not only held on to its gains from January, but has now made a significant move higher with 2 bullish daily candles, testing 1.3450.<><<>>ermany’s strong IFO Business Climate index report helped to reinforce the idea that Europe’s biggest economy was able to weather the acute phase of the sovereign debt crisis and can perhaps act as a bulkwart ... (full story)
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