Euro/dollar had a horrible week, with drops accelerating on the certainty of another round of Greek elections, and open talk about a Greek exit of the euro-zone. The pair avoided falling below this year’s lows for now. Are more drops likely, or are we in oversold territory? Here is an outlook for the upcoming events and an updated technical analysis for EUR/USD.
Apart from Greece, also Spain is struggling with higher yields (and a bottomless banking sector) and the Italian economy is squeezing quite rapidly. Italy is currently on the back burner due to Spain and Greece, but Italy and its banks could return to the limelight sooner than later. The only good news came from Germany, whose growth saved the euro-zone from technical recession. But will Germany use its economic strength to keep most of the euro-zone intact? Up to now, the answer has been No. Things could change.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-outlook-may-21-25/"]EUR/USD Outlook May 21-25[/URL][/I][/B]
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