Today’s sample of Forex Analysis from ForexHound.com

The Euro rallied late in the trading session after an early session setback. Advances by U.S. stocks and commodities triggered a surge in demand for riskier assets.

The EUR USD started the week strong but overbought conditions and fresh concerns about the European banking system following a downgrade of BNP Paribas by Fitch stopped the rally, triggering a technical closing price reversal top.

Later in the week, fresh economic data showing a slowdown in the U.S. economy and a dovish comment by the Federal Reserve helped stabilize the Euro, forcing it to trade in a range most of the week.

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