The Euro continues its sorry decline towards two bands of support: the first is a reaction low at $1.2921, the second is a thicker band running between $1.2350 and $1.2500. The latter is a more logical buy point given psychological support at $1.2500 and its prior hold in late 2008 and early 2009. Given the rate of the current decline it would appear unlikely any of the PIGS club-Med countries will have their business in order prior to such tests. br /br /a href="http://www.zignals.com/main/Applications/Chart/?param=VlczODQ5?end"img width="100%" src="http://www.zignals.com/UsersImages/f525d53d-2949-472f-a6d7-619587a39e80.jpg" alt="Zignals Chart Image" title="Click to open in Zignals Chart Analyzer" //abr /br /The issue isn't so much when will the Euro will reach $1.2500 but what will happen when it does. Given the scale of their respective economies (and subsequent influence on the Euro), will Spain or Italy swallow the bitter pill needed? Without the hard decisions it will be difficult for the Euro to defend $1.2500. br /br /Subscribers to a href="http://www.zignals.com/main/trading_strategies/market_trading_strategies.aspx"Zignals Forex Trading Strategies/a like "Forex Elm", "Forex Oak", "Forex High Winners" and "Forex Bull Trender" will receive trading signals as they occur; but with these four strategies offering a best return of 10% since inception its likely you will be able to create better a href="http://www.zignals.com/main/trading_system/trading_system.aspx"Forex Trading System/a.br /br /For the record, I have created a EURUSD Trading Idea for a push to the first Target level with a stop on a break of the downward channel. br /br /Follow us on a href="http://twitter.com/Zignals"twitter here/abr /br /How to a href="http://www.zignals.com/main/personal_finance/financial_tools.aspx"Get Started with Zignals/abr /br /Build a trading strategy in Zignals and potentially earn money too; download our a href="http://www.zignals.com/main/download/Building_a_Trading_Strategy.pdf"Build a Trading Strategy PDF/a and get selling (and trading) today!br /br /span style="color:#999999;"script type="text/javascript" src="http://feeds.delicious.com/v2/js/Zignalsnews?title=My%20Delicious%20Bookmarksicon=mcount=5sort=datetagsextendednameshowadd"/script/spanbr /span style="font-size:80%"Dr. Declan Fallon, Senior Market Technician for a href="http://www.zignals.com"Zignals.com/a, offers a range of stock a href="http://www.zignals.com/main/trading_strategies/market_trading_strategies.aspx"trading strategies/a for global markets under the user id: ‘Fallond’, ‘ETFTrader’ and ‘Z_Strategy’ available through the latest rich internet application for finance, the a href="http://www.zignals.com/main/marketportal/marketportal.aspx"Zignals MarketPortal/a or the Zignals a href="http://www.zignals.com/main/trading_strategies/market_trading_strategies.aspx"Trading Strategy MarketPlace/a. br /br /Zignals offers a full suite of financial services including price and fundamental a href="http://www.zignals.com/main/stock_alerts/try_stock_alerts.aspx"stock alerts/a, a href="http://www.zignals.com/main/stock_charts/try_stock_charts.aspx"stock charts/a for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed a href="http://www.zignals.com/main/stock_list/stock_list.aspx"stock list/a watchlists, multi-currency a href="http://www.zignals.com/main/portfolio_manager/try_portfolio_manager.aspx"portfolio manager/a, active a href="http://www.zignals.com/main/dashboard/dashboard.aspx"stock screener/a with fundamental trading strategy support and a href="http://www.zignals.com/main/trading_system/trading_system.aspx"trading system/a builder. Forex, precious metal and energy commodities too. Build your own a href="http://www.zignals.com/main/trading_system/trading_system.aspx"trading system/a and sell your a href="http://www.zignals.com/main/trading_strategies/market_trading_strategies.aspx"trading strategy/a in our MarketPlace to earn real cash. Read what others are saying about Zignals on a href="http://www.investimonials.com/websites/reviews-zignals.aspx"Investimonials.com/a. br /br /a href="http://www.zignals.com/main/register.aspx"JOIN US TODAY - IT'S FREE!/a /spanbr /div align="center"pa href="http://www.zignals.com/main/dashboard/dashboard.aspx"img src="http://www.fallondpicks.com/Images/Dashboarh.jpg"/a/div/pdiv class="blogger-post-footer"img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3415040392614486358-2603523249268323317?l=zignalsblog.blogspot.com' alt='' //div