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[nycfxproptrader]

With German IFO coming in much better than expected, plus the fact that the market was expecting a weak number, look for the EUR/USD to have bottomed for now. Technically we are looking at an outside day as new lows were made on the Asian session only to be looking to close strong. Longs were stopped out and will be reentering higher. Very important speech by Trichet to the EU parliament, will his comments be dovish or hawkish? Any hawkish comments look for the EUR/USD to try for the 120 level.

[Livermore]

Originally posted by nycfxproptrader
With German IFO coming in much better than expected, plus the fact that the market was expecting a weak number, look for the EUR/USD to have bottomed for now. Technically we are looking at an outside day as new lows were made on the Asian session only to be looking to close strong. Longs were stopped out and will be reentering higher. Very important speech by Trichet to the EU parliament, will his comments be dovish or hawkish? Any hawkish comments look for the EUR/USD to try for the 120 level.

OK. Did you trade the German IFO numbers today?