GO
Loading...
Live at 2:30p ET
LINDSEY VONN
CNBC.com web-only interview
Downhill skier Lindsay Vonn

The Euro Breakdown, When Will It End?

Maybe it’s us, but it sure seems like moves in the euro are starting to foreshadow moves in S&P. So when will the selling stop?

Todd Gordon of Forex.com called our attention to the pattern on the Halftime Report saying that even when the stock market rallied on Thursday the euro performed poorly.

And low and behold – by Friday the Dow had plunged by triple digits.

Considering the euro broke below 1.22 on Friday, yet another important technical level, when will the selling subside?

According to the Fast Money desk, don’t expect the selling in the euro to end anytime soon.

In currency markets, the moves that we’re seen over the last few days typically take months, explains Guy Adami. 1.15 is the next technical level to watch but I think it's just a resting point on the way lower. At this point I don’t see anything that can buoy the euro against the US dollar.

I agree that the action in the euro is terrible, adds Brian Kelly. I don’t see any reason why the euro doesn’t go to parity (1 USD = 1 EUR).

We’re in a negative trend in the euro and I don’t see any reason for that to turn around either, adds Mike Khouw.

What’s the bottom line?

If the euro is in fact leading the S&P, it looks like a we’re going lower.


______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to fastmoney@cnbc.com.

Trader disclosure: On June 4, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Gordon Is Short Australian Dollar; Terranova Owns (RIG), (RSX), (TER), (AXP), (BMO), (BBY), (DIS), (XCO), (IPSU), (SWN), (AAPL), (CVS), (IPI), (TEVA), (FXB), (GLD), (V); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman Owns (BAC) Leaps; Finerman Owns (BBY); Finerman Owns (BP) Calls; Finerman Owns (HPQ); Finerman Owns (JPM) And (JPM) Calls; Finerman Owns (RIG) Calls; Finerman’s Firm Owns (AAPL); Finerman’s Firm Owns (BAC); Finerman’s Firm Owns (BBY); Finerman’s Firm Owns (HPQ); Finerman’s Firm Owns (JPM); Finerman’s Firm Owns (RIG) Calls; Iuorio Owns (GLD), (VNR), (C ); Iuorio Owns (ABX) Calls; Iuorio Is Long Put Vol In S&P Futures; Iuorio Owns (FXA) Calls; Iuorio Owns (FXC) Calls

For JoeTerranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (DRYS)

For Mike Khouw
Cantor Fitzgerald makes a market in (AA)
Cantor Fitzgerald makes a market in (AAI)
Cantor Fitzgerald makes a market in (AAPL)
Cantor Fitzgerald makes a market in (ABDE)
Cantor Fitzgerald makes a market in (ALK)
Cantor Fitzgerald makes a market in (AMD)
Cantor Fitzgerald makes a market in (AMGN)
Cantor Fitzgerald makes a market in (AMZN)
Cantor Fitzgerald makes a market in (AXP)
Cantor Fitzgerald makes a market in (BA)
Cantor Fitzgerald makes a market in (BAC)
Cantor Fitzgerald makes a market in (BRCM)
Cantor Fitzgerald makes a market in (C)
Cantor Fitzgerald makes a market in (CAL)
Cantor Fitzgerald makes a market in (CHK)
Cantor Fitzgerald makes a market in (CSCO)
Cantor Fitzgerald makes a market in (DELL)
Cantor Fitzgerald makes a market in (DPRT)
Cantor Fitzgerald makes a market in (EBAY)
Cantor Fitzgerald makes a market in (F)
Cantor Fitzgerald makes a market in (FCX)
Cantor Fitzgerald makes a market in (GE)
Cantor Fitzgerald makes a market in (GOOG)
Cantor Fitzgerald makes a market in (GS)
Cantor Fitzgerald makes a market in (INTC)
Cantor Fitzgerald makes a market in (JPM)
Cantor Fitzgerald makes a market in (LCC)
Cantor Fitzgerald makes a market in (LM)
Cantor Fitzgerald makes a market in (LUV)
Cantor Fitzgerald makes a market in (MA)
Cantor Fitzgerald makes a market in (MS)
Cantor Fitzgerald makes a market in (MSFT)
Cantor Fitzgerald makes a market in (NILE)
Cantor Fitzgerald makes a market in (NTAP)
Cantor Fitzgerald makes a market in (NVDA)
Cantor Fitzgerald makes a market in (ORCL)
Cantor Fitzgerald makes a market in (RIMM)
Cantor Fitzgerald makes a market in (SNDA)
Cantor Fitzgerald makes a market in (SNDK)
Cantor Fitzgerald makes a market in (T)
Cantor Fitzgerald makes a market in (TXN)
Cantor Fitzgerald makes a market in (UAUA)
Cantor Fitzgerald makes a market in (V)
Cantor Fitzgerald makes a market in (YHOO)
Cantor Fitzgerald makes a market in (XLF)

For Brian Kelly
Kanundrum Capital Owns (IBM)
Kanundrum Capital Owns (XLI)
Kanundrum Capital Owns (ELK)
Kanundrum Capital Is Short (GS)
Kanundrum Capital Is Short (CME)
Kanundrum Capital Is Short (FCX)

CNBC.com with wires

Featured

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET

Halftime Report