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Masoud : Midweek EUR/USD Review 21 Dec 11

Hello koala king and folks.

Good day to you.

Mario draghi, president of the European Central Bank ECB said that he has no doubt about the sustainability of euro strength.

Many expect that the central bank take a more active role in resolving the debt crisis such as printing more money and buying government bonds. 

The head of economic research institute in Munich said that the real estate sector and the retail sector is good. Even in the manufacturing industry has returns also increased. Therefore the absence of improvement in the economic downturn and its threats to the global economy is extraordinary. According to the latest forecast of economic growth in Germany in 2012, it will be severely reduced from the current three percent to 0.6 percent of GDP. However the Institute of Economic Research, Munich, believes that the German economy next year will not face a crisis and recession.

From a technical perspective: The EUR/USD in time frame H4 is still in a downtrend channel and this channel is still valid. The currency pair tested the top and retreated. As long as the EUR/USD is located within the channel, the main trend is bearish.

Have a nice time.


Masoud is a businessman and a Senior Forex Koala. Connect with him at our page on Facebook

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