EUR Trading Outlook (17-10-2011)
The Euro (EUR) broke above 1.3800 in the European session and tested 1.3900 as the recovery rally extended on hopes that the G20 and EU would create a Grand Plan to solve the debt crisis gripping the continent. Traders are looking to the October 23rd European Council meeting for a detailed plan that may include Greek Debt Haircuts and European Banking Recapitalization and possibly EFSF expansion.
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