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EUR/USD: Euro stands still in anticipation again
The pair EUR/USD is traded slightly downward at the Forex currency market on Wednesday morning after yesterday's rise.
By 8.50 MSK the Euro is at 1.3244 against closing level of 1.3251on Tuesday.
The rise in the major pair last night was based purely on speculative factors, as there have not been fundamental grounds for the rise in the Euro: Greek issue is still unresolved, released Germanstatistics was quite weak.
So far, there are still quite a lot of opened positions in the pair EUR/USD currently, due to expectations of the decisionson Greece; however it is a short-term trend which will not be able to changegeneral direction of downward movement in the medium-term.
This afternoon, activity in the major pair can go down, in advance of the ECB meeting which will be held tomorrow.
Most likely, the pair EUR/USD will not gobeyond the range of 1.3120-1.3255 at the trading session on Wednesday.