Forex News: EUR/USD Is Going Down

The Euro is weaker now because of Portugal and Greece and it is expected to go as low as 1.24 in the next weeks. The problem is that neither Greece or Portugal are able to find a solution for their national debt and so the Euro keeps going down.

Putting these two countries out of the Euro zone is no solution because France and Germany are very weak as well and neither of these two are also able to come up with a smart solution for the crisis. Sarcozy and Merkel just keep talking a lot and doing very little.

If you are a Forex investor this is the right time to go short on the Euro and profit from this crisis. It is expected that the Euro will recover only six months from now so if you want a quick buck, right now it is the time to sell.

Technicals say the Euro will continue to go down and hit rock bottom support lines and the resistance levels are so high, something like 1.35 and 1.36 they had to be hit today if we were about to see a rise above these levels.

If the UK continues to reject the economic proposals from Europe the Euro investors will continue to be afraid of losing their money so they keep on selling short the Euro.

Finally in the long term, about a year from now, the Euro is expected to be around 1.45 and 1.50 because looking at the 10 year technicals it shows the Euro is on the rise.