Iomega Corporation

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Friday, November 24, 2006

FX Update : EUR/USD

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EUR/USD breaks higher, and cleared easily above 1.30 , now trading 1.3065 levels. There is nothing fundamental, due to less Liquidity, and Thanksgiving holiday in US, we have seen a nice technical resistance breakup.
It appears sooner we shall see 1.35, as technical levels are cleared, things are solid.
And USD Index shows more weakness to come in USD, which shall push EUR upwards, and help the rally in Precious Metals.
With USD/JPY pushing to a new low, our Aim is 114 in 1 month time.

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