Markets rallied following the release of the European Financial Stabilization Plan. The Dow Jones Industrials Average closed up almost 4% for the day as risk taking was prevalent through the day. The Dollar also rallied as the EUR/USD ended the day near its Friday close, erasing the EUR's gains after the market's initial reaction to the bailout fund.

Forex Market Trends

 
EUR/USD
GBP/USD
USD/JPY
USD/CHF
AUD/USD
EUR/GBP

Daily Trend
down
down
down
up
down
down

Weekly Trend
down
down
down
up
down
no

Resistance
1.2820
1.4900
93.80
1.1220
0.9080
0.8695

1.2790
1.4865
93.45
1.1190
0.9050
0.8665

1.2760
1.4830
93.10
1.1155
0.9020
0.8630

Support
1.2690
1.4760
92.40
1.1090
0.8950
0.8565

1.2660
1.4725
92.10
1.1060
0.8920
0.8530

1.2630
1.4690
91.80
1.1030
0.8890
0.8500