Hello Traders!
The euro continued to strengthen to 1.3700 as Greece announced further budget cuts and tax increases. The concern for the trader is now the volatility that will come out from unexpected news in the coming months as many questions remain unanswered. We expect the euro to retrace further, as high as 1.4500, but it will most likely have difficulty surpassing the 1.4200 level. Before this euro bullish outlook continues, we expect a retracement to 1.3650/1.3600. A break below 1.3580 will be bearish for the euro and we’ll look for further USD strength.
Link to Video: http://www.spoteuro.com/2010/03/04/forex-daily-outlook-72/
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