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Hardy: Looking at EUR pairs ahead of ECB

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How much will the European Central Bank do this Thursday, asks Saxo's John Hardy. He discusses what's on the table for ECB president Mario Draghi and whether he could surprise to the downside.

Hardy looks at euro pairs and says EURGBP is squeezing higher while EURUSD remains low. With eurodollar he says there could be either a significant move back higher above 1.06 or a collapse through 1.04. There is the possibility of seeing a run to parity, he says. EURUSD will remain in focus ahead of Friday's US nonfarm payrolls and the December 16th Federal Open Market Committee (FOMC) meeting.