Monday's sell off of global stock markets and the sharp weakening of the Euro were predicted by the Forex Robot team.  To worsen matters, Standards & Poors has downgraded Italy. The reason for this downgrade is due to Italy's weakening economy and its perceived insufficient response to solve it's current debt insolvency.  Fear is beginning to grip traders throughout the world, as it is recognized that a weakened Euro and the possibility of a country's default within the EuroZone will have serious consequences for both global economic health and stability.  

Nouriel Roubini, a famous economist, known for his accurate prediction of the 2008 economic and housing market collapse has suggested that Greece should quickly find a way to exit from the Eurozone.  He suggests that Greece's economy is already in default, and by allowing large European countries, such as France and Germany to provide continued financial assistance in the form of bailouts, the whole EuroZone is being adversely effected.  Additionally, he believes that there are little chances of improvement for Greece, especially with a population unwilling to accept austerity measures set in place by the highly unpopular government. 

Another important market being impacted by extreme volatility is the equities market.  Brent and crude oil prices have seen wild swings over the last few weeks.  For those traders with steel stomachs, we suggest buying oil below $85 and selling when the prices reach close to $90.