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Feb, 23 2009 3:04 PM Est.

Casey Stubbs- Winners Edge Trading

The Euro lost value in today's trading as investors bought the Dollar because of profit taking off of Fridays gains for the Euro.

The pair is currently testing the key support level of 1.2700 if the pair bounces of that level we could see further gains. Or if the pair goes through that level. We could see a downside target of 1.2550 again. Watch those levels then look for entries to find good trades.

By Jim Welsh, greenfaucet.com

After the Smoot-Hawley Tariff Act was passed in June 1930, world trade plunged 40% over the next 18 months, clearly deepening the Great Depression. Protectionism is one of the few topics both liberal and conservative economists agree. Protectionism is bad economic policy. However, I'm not comforted by this consensus. People know you shouldn't drink and drive, or smoke cigarettes, but they do. Politicians bemoan our nation's dependence on foreign oil suppliers, but fight any effort to increase domestic oil drilling or building nuclear power plants that would reduce our dependence. We're building a wall on our border with Mexico to lower illegal immigration, but provide free education and health care ...

By Michael Pento, greenfaucet.com

In contrast with a depression, a recession is relatively easy to bring to an end. The genesis of a recession is caused by excessive credit creation on the part of banks and the Fed. The superfluous money drives prices higher and the rate of inflation begins to increase at a pace that makes the Fed uncomfortable. The Central bank then begins to raise rates in order to soak up that liquidity and put an end to its easy monetary policy. The higher interest rates serve to choke off consumer borrowing, and the amount of money in the system compared to the total availability of goods and services becomes reduced. Any inflation that was in the economy gets squeezed out. Once prices return to a favorable ...

[LEFT][SIZE="5"]EUR/USD - Euro Dollar[/SIZE]1,2822. EUR USD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. The price should continue to move in 1,2780 / 1,3000 range. [/LEFT][INDENT][LEFT][B]Resistances[/B]1,2870 - 1,3000[B]Supports[/B]1,2780 - 1,2520[/LEFT][/INDENT][LEFT]more information on [URL="http://www.mataf.net/en/forex-eurusd.htm"]EUR/USD - Euro Dollar [B]Click Here[/B][/URL][/LEFT][CENTER][IMG]http://www.mataf.net/section/devises/page/images/eurusd.png[/IMG][/CENTER][LEFT][SIZE="5"]GBP/USD - British Pound Dollar[/SIZE]1,4597. GBP USD broke 1,4480 resistance. The volatility ...