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Nicole Elliott: EURUSD could hit 1.12 or even higher

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There's a complacency in the FX markets which could catch out many traders. That's the view of the renowned technical analyst, Nicole Elliott. Her charts suggest EURUSD could easily break out of its narrow range quite soon and 1.12 or even 1.15 could easily be achieved. 
If the euro does get a boost , it's sterling that could suffer. A proposed referendum of the UK's membership of the European Union is hanging over all GBP trades. Nicole says it's vulnerable and traders need to be better prepared for more downside moves. 
If the euro were to strengthen, this won't be good news for European exporters, notably those in Germany. She also takes a look at the DAX and says we're poised at a key support level. It won't, she suggests, take much for that level to be broken and other equity indices could be caught in that slipstream.