The Euro is rebounding this morning after a sharp sell-off on Wednesday. Pressure was on the single currency yesterday following the confirmation of a technical closing price reversal top the day before. Fundamentally, traders turned bearish on the currency after Moody’s Investors Service downgraded 30 Spanish banks and following the resignation of Portugal’s prime minister.

We are highlighting the trade Fari Hamzei put on shortly before the close today before Google (GOOG) released it's earnings for the 3rd Quarter. We are not highlighting it because it was a successful and highly profitable trade, which it was.

The British Pound is hugging a key Fibonacci retracement level against the Dollar amid speculation the Fed will announce a renewal of stimulus measures to boost the economy at its FOMC meeting on Tuesday.

Precious metals guru Miguel Perez-Santella shares his thoughts on the future of gold, including why gold will drop as confidence returns, how the jewelry market is "essentially dead", and whether the new administration should limit speculation.