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Forex Trade Alert for EUR/USD

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Forex Trade Alert for EUR/USD

The euro plunged through support at $1.34 after the Fitch downgrade of Portugal’s sovereign debt rating. The European Monetary Union faces significant instability in the months ahead. Assisting Greece (2.6% of EMU GDP) or Portugal (1.8%) may buy some time, but does not solve the debt issues facing the far larger economies of Italy (17% of EMU GDP) and Spain (11.7%). The current decline of the euro will test $1.30, but the longer term target is the 2009 low of $1.25.

Euro Tremors Weaken Gold

Next Day Trading Ranges for EUR/USD Friday Mar 26, 2010.

The 20 day moving average of the daily trading range is 126 Pips and the 60 day moving average of the daily trading range is 134 Pips. This shows that volatility has decreased in the short term

The [R3] or the most extreme high trading range is 1.3436.

The [R2] or the extreme high trading range is 1.3389.

The [R1] or the high trading range is 1.3361.

The [P] or pivot point is 1.3314.

The [S1] or the low trading range is 1.3286.

The [S2] or the extreme low trading range is 1.3239.

The [S3] or the most extreme low trading range is 1.3211.

4xGenie Support Team