Forex Analysis : EUR/USD

The Euro may well hit the 1.5000 mark this week, with nothing short of a rebound in the USD Index (wishful thinking we hear you say) going to stop the advance just yet.
Trade View
• Although the short term charts point to some initial weakness in EUR/USD, there is firm support at 1.4750 or so and indeed an even stronger level 100 pips down at 1.4650.
• If things go from just mad to totally insane and the Fed eventually pulls QE3 out of their bag of evil tricks, we can see a scenario whereby the Euro rallies above 1.6000 (and the USD Index falls to 68 or lower)

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