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Yesterday’s trading session was choppy and characterized by a lot of back and forth movement. Germany’s Business Climate came out with a value which was very close to the expected one but the US Consumer Confidence posted a better reading, strengthening the US Dollar.

Yesterday’s trading session was choppy and characterized by a lot of back and forth movement. Germany’s Business Climate came out with a value which was very close to the expected one but the US Consumer Confidence posted a better reading, strengthening the US Dollar.

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A clear break will determine this week's direction!    http://www.gdmfx.com/technical-forex-analysis-the-first-clear-break-is-likely-to-decide-the-weeks-direction/

A clear break will determine this week's direction! http://www.gdmfx.com/technical-forex-analysis-the-first-clear-break-is-likely-to-decide-the-weeks-direction/

Yesterday the German Flash Manufacturing PMI came out better than expected but the Euro strength generated by this event was short lived and soon the pair dropped to touch 1.3300 resistance again.

Yesterday the German Flash Manufacturing PMI came out better than expected but the Euro strength generated by this event was short lived and soon the pair dropped to touch 1.3300 resistance again.

As anticipated, yesterday was not an action packed day and the pair moved slowly, with no real sense of direction.

As anticipated, yesterday was not an action packed day and the pair moved slowly, with no real sense of direction.

During Friday’s trading session the Euro initially gained against the US Dollar and the pair rose to 1.3581 before dropping to make another attempt at breaking 1.3520 to the downside.

During Friday’s trading session the Euro initially gained against the US Dollar and the pair rose to 1.3581 before dropping to make another attempt at breaking 1.3520 to the downside.

According to our forex market analysis, although the Euro interest rate remained unchanged, the market had a major whipsaw after Mario Draghi’s comments made at the Press Conference that followed the Rate announcement.

According to our forex market analysis, although the Euro interest rate remained unchanged, the market had a major whipsaw after Mario Draghi’s comments made at the Press Conference that followed the Rate announcement.

The pair had another day characterized by a difficult trading environment and after climbing almost the entire session, it fell below the opening price of the day on the back of better than expected US Unemployment Claims numbers: actual 339K compared to the anticipated 352K.

The pair had another day characterized by a difficult trading environment and after climbing almost the entire session, it fell below the opening price of the day on the back of better than expected US Unemployment Claims numbers: actual 339K compared to the anticipated 352K.

The US Unemployment Claims came out with a lower than anticipated value, strengthening the US Dollar and reversing an initial move higher but for the entire day price moved just about 40 pips.

The US Unemployment Claims came out with a lower than anticipated value, strengthening the US Dollar and reversing an initial move higher but for the entire day price moved just about 40 pips.

Friday’s better than expected US Non Farm Employment Change numbers (actual 175K and expected 167K) managed to strengthen the greenback but the tremendous buyer pressure present in the market prevented the pair from dropping substantially.

Friday’s better than expected US Non Farm Employment Change numbers (actual 175K and expected 167K) managed to strengthen the greenback but the tremendous buyer pressure present in the market prevented the pair from dropping substantially.

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