SpotEuro Forex Daily Outlook February 23, 2010

Expect further deterioration in the euro over the next few months. We think the worst is yet to come as Greece may only be the beginning. Until we see clear signs of a definitive plan of action within the EZ, fear will make the worst of the euro. The 1.2500 level we predicted just a few weeks ago may come sooner than expected. The Yen has started to roll over, just before hitting the 200 day moving average at 92.20. We see support at 90.50, but ultimately expect 86.20 or 85 to be the mid-term double bottom. News later in the week should be the driving force behind further volatility.

Dont forget, we will be hosting a Live! Trading session Tuesday, February 23rd, 1500 GMT/10am EST.

Premium members may access the direct link in the Members Downloads section. The room will be open 20 minutes prior to trading. If you require any assistance with the room, please feel free to call our trading room support at 508-877-0446, speak with Janet. You may also contact us at 330-SPOT-USD (330-776-8873) or via SKYPE spoteuro.

If youd like a more detailed analysis with potential trade opportunities during our live trading session, please join us in the members area.

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