Euro/dollar had a fifth consecutive week of downfalls as the situation in Spain is deteriorating quickly, “winning” more negative attention than Greece and Italy. The upcoming week at the wake of the new month is quite busy, with a rate decision by the ECB being the highlight. Will the central bank step up to stabilize the situation? Here is an outlook for the upcoming events and an updated technical analysis for EUR/USD.
Conditions are also worsening on the other side of the Atlantic: Non-Farm Payrolls came out below the most pessimistic forecast and downwards revisions also soured the mood. Nevertheless, the chances of QE3 still remain low in the current conditions, and more negativity from Europe certainly cannot be excluded.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-outlook-june-4-8/"]EUR/USD Outlook June 4-8[/URL][/I][/B]
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