After several days on which the Euro saw recovery signals, Fitch Ratings announced that it downgrades Spain's credit rating. The rating company explained that Spain's large debts were the catalysts for this decision. As a result the Euro promptly dropped on all fronts, and erased its profits. Could it drop further?

Forex Market Trends

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

Daily Trend
down
down
up
up
up
up

Weekly Trend
down
down
down
up
up
down

Resistance
1.2453
1.4695
92.50
1.1730
0.8785
0.8610

1.2390
1.4610
92.00
1.1690
0.8685
0.8575

1.2340
1.4540
91.75
1.1630
0.8590
0.8540

Support
1.2202
1.4407
90.53
1.1505
0.8410
0.8480

1.2150
1.4365
90.25
1.1455
0.8360
0.8460

1.2125
1.4330
90.00
1.1380
0.8325
0.8430