Euro/dollar traded in a limited range as the markets received mixed news and still await a formal Spanish aid request. Spain will hold a closely watched bond auction that will serve as a barometer for the crisis. In addition, PMI figures will also get attention. Here is an outlook for the upcoming events and an updated technical analysis for EUR/USD.
The French economy managed to escape contraction, and Germany posted nice growth. On the other hand, an important German survey was rather depressing. Greece will easily meet the August 20th obligations using the revolving door trick by the ECB, but now faces firm German opposition for its requests for more money and more time.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-forecast-august-20-24-2012/"]EUR/USD Forecast August 20-24 2012[/URL][/I][/B]
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