EURUSD fall sharply. No real reason except stocks being hit.

Written January 21, 2010 at 10:28 AM EST by  

gregmike-00144

The EURUSD fell like a stone. Stocks are getting hit and talk of breaking trendline support in the major indices may lead to further pressure.  When stocks decline, it looks like a flight into the US dollar may once again be the modus operandi. 

djia4

 Watching 1.4045 support now.  This was target from the daily. See earlier post for the chart of the daily. (CLICK HERE)

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2 Responses to “EURUSD fall sharply. No real reason except stocks being hit.”

  1. Jon on January 21st, 2010 10:50 am

    I suspect that everyone is skittish about the Obama’s press conference within the hour regarding his banking taxations and his proposed regulations.

  2. Lee on January 21st, 2010 11:14 am

    Obama will royally screw up the fiancial sector in US. Who are the governement to arbitrarily dictate to the banks whether they must break up or not? And who told him that the majority of the population is angry at the banks and the financial sector? You handcuff them and you ruin them and it will make the economy better? It will create jobs? Who is advising Obama anyway? Or is he just a lone renegade hell bent on ruining things in US?

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