EUR Trading Outlook (02-08-2012)
The Euro (EUR) the FOMC saw the EUR/USD drop to 1.2220 but so far in Asian trade we are drifting back higher ahead of the main risk event this week in the ECB meeting tonight. ECB President Draghi last week highlighted to the market something big was coming and so are expecting something substantial to be announced tonight. Failure will see 1.2000 tested and the bears take back control.
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