SpotEuro Forex Daily Outlook March 1, 2010

Happy Monday Traders!

Expect the euro to strengthen during the first few days of March as plans to rescue Greece finally come to light. Germany is leading the way to buy Greeces bonds, a European effort to grant Greece as much as 25 billion euros. Nothing is written in stone just yet, but if we look at the overall picture, Greece needs to raise 53 billion euros in 2010 and will face 20 billion euros of bond redemptions by the end of May. We do not think that this bail out will work in the long term and the euro may pay the price later this year. For now, we expect a retracement up to 1.38/1.40 area before the news fades and traders realize that the long term problems within the EZ need to be fixed before the euro can be pushed higher.

Dont forget, we will be hosting a Live! Trading session Tuesday, March 2nd, 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 youd like a more detailed analysis with potential trade opportunities during our live trading session, please join us in the members area. Please visit us at www.spoteuro.com

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