EURO (EUR),Daily Review, May 6th 2010

By IBTimes Staff Reporter | May 06 2010 6:13 AM

The Euro plunged to its weakest level against the Dollar in more than a year as protests in Greece turned deadly and Moody's Investors Service warned that Portugal's credit rating may be reduced. The EUR/USD has been trading downwards since last week and has broken its support levels each time, the momentum is clearly bearish. Overall, EUR/USD traded with a low of 1.2803 and with a high of 1.2996. Today, ECB will announce the interest rate decision which is expected to remain at 1.0%, German Factory Orders are expected to rise from 0.0% to 1.3%.

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EUR/USD - Last: 1.2845

Resistance

1.2905

1.2996

1.3212

Support

1.2788

1.27

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Euro Set For Another Week of Disappointing Data

Euro Set For Another Week of Disappointing Data

Eurozone Reports Increased Trade Surplus

Eurozone Reports Increased Trade Surplus

Eurozone GDP Puts Euro Under Pressure

Eurozone GDP Puts Euro Under Pressure

ZEW Results Weigh on Euro

ZEW Results Weigh on Euro

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