EURO: The European lead currency managed to maintain a countertrend rally throughout last week. This morning, the Euro even overtook 1,39 versus the Dollar briefly before a technical correction brought prices down below 1,38. Currency traders currently focus on the political activities designed to bring about a longer lasting solution to the Greek 'bankruptcy' problem and a strengthening of the European Financial Stability Facility.
Any longer lasting rally will have to overtake the 1,43 area before a trend change could be localized. For the time being we foresee a consolidation of last week's extensive gains between 1,36 and 1,39.
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