Forex Market News:
I mentioned earlier that i thought we would set new lows for the EUR/USD, Cable and the AUD/USD in early European trading and the market has been nice enough to back me up. At the time of writing, the EUR/USD has broken below minor support at 1.2680 and could potentially work its way back to 1.2550/00 which i think is a decent level to look to buy.
The Cable and the AUD/USD both just saw new daily lows of 1.4204 and 0.6428 respectively but are still above their important supports at 1.4100 and 0.6300.
The EUR/JPY is also heading lower in morning European forex trading, currently trading just at 123.60, just above its lows for the day at 123.44. The 123.00 level is the minor support to pay attention to and i would buy here with a stop below 123.00.