FX Market-The Euro

It was bound to happen and now it has, the Euro has crossed below $1.30-there's a lot of volatility as the Euro is trying to be propped up as $1.30 is an important psychological level. FXE is a trade you can take, but it's not going to produce huge gains. What's more important is the relationship to the dollar, which should rise, although we didn't have great news today on employment. As I mentioned last night, a rising dollar will affect commodity prices, so I'll be looking at those trades.