Friday, October 21, 2011

Euro trying to break out of range on "optimism"

EFSF bailout fund has been a major topic of concern. Germany and France continue to discuss ways to handle the European debt situations with a summit on Sunday and possibly another one on Wednesday. ECB has also talked about the possibility of slashing rates last meeting do to double-dip recession.

h1 EUR-USD chart:

Euro breaks above 1598 ema (fibonacci moving average) in a jagged thrust higher.

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