Euro Breaks Support

10/07/2008 9:53 am EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst

chart

The plunge in the world equity market has caused further flows to the dollar which has moved sharply higher. The weekly chart of the euro/dollar shows that the long term uptrend has been broken with the dollar's gains this week. The next support for the euro is in the 1.3000 area and then below 1.2500.

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