EUR/USD week of Oct 2-7

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Well it has been a very interesting week for the euro and the dollar, with so much news coming out of both regions of the world.Eur/USD fell to new lows, made an impressing recovery of almost 400 pips but eventually closed at the same place. The upcoming week consists of industrial production and inflation numbers standing out.

I don’t see the situation for the euro getting any better this coming week, with so many known issues coming out of the region I can only see more bad hits for the euro. The default of Greece seems inevitable at this point and bailing them out even more just makes no sense, since no one has enough money to keep the madness going.

Hoping for some clearance on Monday with some better news about QE3 in the U.S. and see if we get some clear answers. I will be starting weekly outlooks on my main three currency pairs on the blog as well. I have been posting them to Tumblr but would like something I can manage more.

Enjoy the weekend everyone,

Gus