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EURUSD Sees Biggest Drop Since Its Creation EURUSD Sees Biggest Drop Since Its Creation
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Old 09-30-2008, 12:30 PM
DailyFx's Avatar
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Join Date: Jan 2007
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Default EURUSD Sees Biggest Drop Since Its Creation
Already heading lower, the EURUSD's drop has accelerated to an over 400-point collapse - the biggest declince the euro first started trading back in 1999. Major support is seen in a rising trendline that goes back to the 2002 swing low up to 1.3920 and a 50% retracement at 1.3840.

The dollar isn't just strong against the euro however. The GBPUSD is pushing its decline up to 350 points, the USDJPY advance is 280 points, USDCHF is up 440 points, USDCAD has risen 210 points and AUDUSD is down 230 points.
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