The Euro closed its London session above the 23.6% Fibonacci retracement line for a second day, giving more strength to a continuation of the uptrend for next week. Monday sees some important data releases, Empire State Manufacturing Index, Capacity Utilization and Industrial Production. Any weak data will send the Euro back up, Greece worries will be postponed to later in the month as the end June deadline approaches. Today’s data which seemed positive for the USD, with Michigan Consumer Confidence released at 94.6 up from last at 90.7 and higher than an expected 91.5, has done very little to strengthen the dollar.

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