Many feel Euro could sink even lowe r Earlier today, the Euro hit its lowest level in nearly four months.

Greek politicians had failed in their latest efforts to form a ruling coalition. Investors remain concerned about the risk of Greece exiting the Euro zone. Adrian Jones Hi Hendra A new election has essentially been ensured, after Greek coalition talks hit an impasse on Sunday.

Greece's radical leftist leader had spurned an invitation from the president for a final round of talks, which he had sought for today.

The standoff has resulted in renewed concern that Greece could ultimately leave the Euro area, should it renege on pledges to cut spending under the two bailouts negotiated over the past two years.

The region's finance ministers are due to meet in Brussels later today and may then discuss aid for Greece. In Germany, Chancellor Angela Merkel's conservatives yesterday suffered a crushing defeat in an election held in Germany's most populous state. In fact, it was their worst defeat in elections since World War II.

This result could embolden the left opposition to step up attacks on Merkel's European austerity policies. A report due today may show that industrial production in the nation Euro region has risen 0. As compared to a year ago, output is predicted to have decreased 1. In the view of many analysts, the Euro is likely to head lower in the coming weeks, as they expect that the European Central Bank ECB may eventually adopt further monetary easing steps to support the region's economy.

The safe haven Dollar, on the other hand, has risen broadly, as currencies sensitive to shifts in risk appetite had come under pressure.

Dollar had edged up 0.

The Greenback had been supported by Dollar buying by Japanese importers and following Japanese Prime Minister, Yoshihiko Noda, having told The Wall Street Journal over the weekend, that all options were on the table for dealing with the strong Yen.

He stopped short though, of saying that the currency was overvalued. The Australian Dollar had declined even after the People's Bank of China had announced that reserve ratios will fall 50 basis points, effective from May 18th.

This is the third reduction in six months and is significant for Australia, seeing that China is its largest trading partner. This Small Town Farmer Wants To Teach You How To Make A Very Good Living Trading Forex Using A Simple To Understand System - Gratis Training Here.

EXOTIC TRADING Greece Uncertainty Weighing Heavily On The Euro Political leaders in Greece remain dead-locked in their efforts to form a ruling coalition. This has led to further speculation that the country may be exiting the Euro Zone. The Euro hit its lowest levels in nearly 4 months and many analysts believe it is likely to head lower over the next few weeks as the European Central Bank may have to intervene and adopt further monetary easing steps to support the EU economy.

The Japanese Yen was caught on the back foot against the US Dollar, after opening slightly lower against the Dollar in early trading on Monday.

Let's take a look at the lay of the land: Click on Image to Enlargen As you can see, the pair entered a range immediately after we were taken out of our last profitable trade entered on Thursday. Right now my indicators are moving sideways but my overall bias remains bearish as the bearish channel remains intact.

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Once the market does wake up we can expect to see price eventually move out of the range. You will notice that I inserted two blue horizontal lines at the most recent swing low and swing high points.

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These areas will serve as potential breakout levels that we can monitor. Should price close below the lower blue horizontal line we may look to enter a Sell trade, provided that there is additional confirmation from our indicators. Targets for Sell trades include the lower bearish channel trendline or the On the other hand, should price close above the upper blue horizontal line we may look to enter a Buy trade, provided that there is additional confirmation from our indicators of course.

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Targets for Buy trades include the upper bearish channel trendline or the Right now, there's no telling when this pair will spark to life but for the time being we have a good idea of how to approach potential trades, so we can check back again every few hours to re-assess the state of play and act accordingly.

Take care and all the best for the week ahead. Wesley Senior Trader for World Class Trading Stars. Learn To Trade From A Master Trader Who Trades Full Time And Makes A Lot Of Money No Cost - No strings Attached - Just Go HERE.

Joshua Schultz The Cable looks to be slowly making it's way down to the 1. We do have some reason to believe that the market will move on back up as we have hidden bullish divergence on the daily chart. I'd like to see the market move back up to 1.

Click on Image to Enlargen On the 4 hour chart we see some more regular bullish divergence even though it's very slight, my indicators are starting to roll over on this time frame. In the news today we don't have anything on the schedule for either the Gbp or the Usd so we are free and clear to take some action today.

Good luck and safe trading! Josh Senior Trader For Profit Day Trading. Piet Swart Trades Full Time He Makes A Lot Of Money Doing It He Will Tell You Gratis How You Can Too Here. I have two lines on this chart that's important today. If we are wide awake then we could take 45 pips from the market. My system shows me that we could expect an upward movement of about 25 pips to the first target line area at 1.

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We could land another 20 pips when it pulls back to the second target line area at 1. This one is a fine line and it will require a good balancing act. So stay focused, be alert and never drop your guard. Click on Image to Enlargen. Remember, trade with your head and not your "gutfeel".

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