FXstreet.com (Barcelona) - U.S markets have swung into negative territory after fluctuatuiion between gains and losses in the first hours of trading, while the USD has posted one of the largest 24-hours declines ever seen.

Dow Jones Industrial is going through losses by 0.85%, while Nasdaq drops 0.44%. Investors have removed their confidence on financials, frightened by the fed announce to use $1 trillion to purchase treasury bonds and mortgage securities.

The Dollar has collapsed across the board against all majors; USD/JPY USD/JPY has given away almost 500 pips so far in 24 hours, breaking a seemingly important support level at 94.64 (Jan 6 low), and the pair continues running down towards 93.40 (50% fib retracement of the Jan - March rally)

GBP/USD has risen from around 1.3835 before the Fed announcement, all the way towards 1.4575 (Feb 24 high), attempting to break above there on its rally towards Feb 23 high at 1.4665.

EUR/USD, has rallied from levels around 1.3000 yesterday to test 1.3750 resistance level at the moment of writing, despite its heavily overbought condition, the European currency advances higher, although, according to Valeria Bednarik, Collaborator at FXstreet.com the pair is showing signs of exhaustion: Bullish yet over bought, the pair is fighting at actual levels the daily 200 EMA. Hourly candles are giving signs of exhaustion and a provable reversal correction while RSI is way overbought. 20 SMA is clearly bullish and price remains above larger 60 and 200 EMA. Downside rallies will be consider corrections, to actual bullish dominant trend.