Concerns are growing for the condition of the Spanish economy. No high impact data will be released today, but tomorrow PMIs will be very important, since it will prove the most current release of the European economy.
In more than two months, significant process has been shown in the bank's solvency and the risk of an EMU breakup. However, most of the European economy is or towards a recession, making the regional growth rate reaches important levels of risk.
In addition, the market is still focused on whether or when Spain will come to an aid request and how the terms will be structured. And most analysts expect this to happen after September 28th.
In addition, D1 chart of the EUR / USD has also been showing over bought condition. This will allow for the euro bears to take over.
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