EUR/USD is now falling under the 1.28 line and trading at the lowest levels since September 11th. It hit a low of 1.2802, just under the 1.2805 trough seen on September 12th. EUR USD 8 Week Low – Click image to enlarge Merkel’s statement about taking the crisis 5 more years wasn’t that encouraging. Yields on 2 year German bills fell below 0% for the first time since September, a very worrying sign. An article published in Die Welt over the weekend also added fuel to the fire: it said that the ECB is checking the quality of Spanish collateral. If the collateral isn’t of high quality, the ECB could demand to replace 16.6 billion euros worth of bonds, at a time when Spanish banks are struggling. Update: the pair recorded a low of 1.2780 before stabilizing, at least for now. On Friday, the release of the positive Non-Farm Payrolls sent the dollar higher and sent EUR/USD towards the lower part of the range. The reaction to the Non-Farm Payrolls also included a slide of the stock market and drops in commodities, a class “risk off” reaction to an event that is usually “risk on”. This implies that the markets might already be pricing in a victory for Obama. Another factor is Greece of course: the government is making a last moment drive to pass new austerity measures, as it faces running out of money soon. However, the new measures could be unconstitutional. The Greek coalition isn’t strong – Democratic Left does not support the labor reforms, and also PASOK is making signs of dissatisfaction. PM Samaras has to work hard in order to get support. Bad news also came from Spain, where registered unemployed people rose by 128.2K, more than 90.3K that was expected. The next line of support is 1.2750, followed by 1.2670. Resistance is at 1.28, followed by 1.2880. For more on the pair, see the EUR/USD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Gold down – Obama up FxPro - Forex Broker 10 years EUR/USD is now falling under the 1.28 line and trading at the lowest levels since September 11th. It hit a low of 1.2802, just under the 1.2805 trough seen on September 12th. [caption id="attachment_38896" align="alignright" width="400"] EUR USD 8 Week Low - Click image to enlarge[/caption] Merkel's statement about taking the crisis 5 more years wasn't that encouraging. Yields on 2 year German bills fell below 0% for the first time since September, a very worrying sign. An article published in Die Welt over the weekend also added fuel to the fire: it said that the ECB is checking the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.