SpotEuro Forex Daily Outlook May 6, 2010

Fear continued to drive the dollar strength yesterday, taking the EUR/USD pair down to 1.28. As weve mentioned, weve been targeting 1.25 for the end of the year, but unless the markets regain confidence in the Euro-zone, we may see that level before the end of May. At this point were looking for a short term rebound to 1.29 and 1.30. The analysis changes daily based on what news comes out pertaining Greece and the bailout package along with the possibilities of future bailouts as well as possible countries withdrawing from the EMU (Greece specifically). At this time, were wondering how Greek protests are going to affect the future of Greece. Once again, only time will tell; until then, we do not advise calling a bottom at 1.28. Ifyoud like a more detailed analysis with potential trade opportunities during our live trading session, please join us in the members area. Please visit us at


We are getting ourselves in to a real fib war on the EUR/USD, USD/CHF. Todays video breaks things down by looking at swing fibs vs moves fibs. Also we have a look at the USD/JPY. This pair is due a pullback somewhere soon. There should be opportunities to ride this down while planning for longer-term longs.