Outlook for 21 January of 2013

FX:EURUSD   Euro / U.S. Dollar
Expecting short term down. Risk is up to you I don't like to trade counter trend but who knows.

Aside from the EU Finance Ministers meeting, a number of key economic reports are scheduled for release next week including Europe January PMI numbers, the German ZEW and IFO reports. Since growth is greatest risk for the euro , the near term outlook for the currency pair will hinge on next weeks data releases. Good numbers could push the pair above 1.34 while weak numbers could drive a break below 1.32.

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