inthemoneystocks
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This morning the Euro is catching a sharp bid higher from a very oversold technical condition. The European Central Bank announced that they will start buying bonds from distressed nations. In other words the ECB will be following the Federal Reserve Bank's quantitative easing approach. This news is the catalyst for the large stock market bounce in Europe and the United States this morning. Inflate the markets at all costs is the motto by the central banks around the world. Today the Currencyshares Euro Trust (NYSE:FXE) is trading higher by $1.24 to $130.54. There will be intra-day resistance for the FXE around the $130.75 and $131.00 levels.
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