After breaking below the 1.4030 support line, Euro/Dollar continues lower and has just pierced through the round number of 1.40, eyed by many. It is quickly approaching the next support line. There are multiple reasons: Weak German PMI: The initial numbers for Europe’s powerhouse were significantly weaker than expected. Spain’s political mess: the ruling party lost regional elections. Protests against all parties continue on the streets. Spanish bond yields are just under the all-time high of 5.60% Italy’s got a credit warning over the weekend. This is serious – Italy is Europe’s second largest country. Greek re-profiling: The Greek prime minister ruled out restructuring but not re-profiling. This game of words only delays the inevitable default. Oil prices are falling – this helps the US dollar. The next support level is at 1.3950, followed by more significant support 1.3860. For more on the Euro, 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 Bits share Read Next Granada Protests Could Turn Violent Yohay Elam 12 years After breaking below the 1.4030 support line, Euro/Dollar continues lower and has just pierced through the round number of 1.40, eyed by many. It is quickly approaching the next support line. There are multiple reasons: Weak German PMI: The initial numbers for Europe's powerhouse were significantly weaker than expected. Spain's political mess: the ruling party lost regional elections. Protests against all parties continue on the streets. Spanish bond yields are just under the all-time high of 5.60% Italy's got a credit warning over the weekend. This is serious - Italy is Europe's second largest country. Greek re-profiling: The Greek prime… 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.
