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Currencies EUR USD News Euro Range Narrows Ahead Of Holidays!

EUR/USD is trading in a narrow range of roughly 100 pips over the past week as the uncertainty over the Euro debt crisis saw the Euro trade at 11-month lows.  It is questionable whether this range is setting up to be support for a retracement higher, or a continuation of the move lower.

The Euro traded as low 1.20 over 18 months ago when the Euro debt crisis was in its infancy and though the uncertainty was greater than what we know now, the situation has gotten much worse.

The actions of the US Fed since that time to weaken the US dollar to provide endless liquidity through the quantitative easing programs has provided the Euro with some support, but for how much longer?

The next leg is likely lower for the Euro as leaders continue to kick the can further down the road.