Forex comentary

Debt crisis all over Europe has made the euro and most indexes accros the old continent to crash during yesterdays session, then the ECB had to take part during the session to give some stability to the markets by buying debt from Italy, all of this started last week when Moody´s lowered Portugal´s rating.

As we can see, a correction is due for todays sesion, for the euro to take some energy today, it will have to close at least above yesterdays high, thats to give some confidence to the markets, that would tell us that the next target will at 8 and 21 EMA, in contrary if it doesnt manage to do it, indecision will come back to the market and will probably trade without any clear trend until friday where the stress test become public.

Happy Trading