Forexzilla.org

Yesterday FED left the rates unchanged but warned that it is watching the markets and will act if necessary. FED rescued AIG by authorising NY Fed to lend up to $85bln as secured loans. We’ll see in the next few days if this is enough to calm the markets. Order books are very thin and the liquitity is extremely low. Be very careful and always use stops to protect your positions. EUR/USD is trying to continue its correction upwards but for now it is very difficult. Even better than expected ZEW couldn’t help. Support is @ 1.4070 and 1.3970. Resistance is @ 1.4220 and 1.4320.