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EUR/USD Forecast Feb 8-12

EUR/USD finally burst out of range and rallied very nicely. Is there more in store? GDP figures stand out this week. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.

While PMIs failed to impress, the employment situation in the euro-zone is improving, with better data from Germany and Spain. However, the big rally can be attributed to the greenback's crash that was mostly fueled by a worrying report for the services sector. Draghi could not halt the rally.