Key levels updates

We had our largest ever bank failure in U.S. history go down tonight and the story has been completely ignored by the markets... clearly the markets are focused on this bailout fiasco and will be paralyzed and panicked until it's either passed or we find out what the actual details of the plan are. If we go through the trade day this morning and throughout tomorrow without any kind of comfort from DC the markets could be a mess.

From the AP wires:

NEW YORK - JPMorgan Chase & Co. Inc. came to the rescue of Washington Mutual Inc. Thursday, buying the thrift's banking assets after WaMu was seized by the Federal Deposit Insurance Corp. in the largest failure ever of a U.S. bank. This is the second time in six months that JPMorgan Chase has taken over a major financial institution crippled by bad bets in the mortgage market.

The deal will cost JPMorgan Chase $1.9 billion, and the bank said in a statement it planned to write down WaMu's loan portfolio by approximately $31 billion. JPMorgan Chase, which acquired Bear Stearns Cos. last March, also said it would sell $8 billion in common stock to raise its capital position.

Here the key levels. Keep in mind when I'm posting these and that any piece of news or rumor could totally change the ballgame.

Key downside levels:

1.4621
1.4602
1.4574
1.4552
1.4528

Key upside levels:

1.4689
1.4721
1.4755
1.4784
1.4815

I wanted to add that I'm not buying the USD. I will not short the euro. I've bought the dips today and this evening and will stick to that game plan for now. All of these events happening are very bad for the USD and if the market does as it should do we should expect to see the USD sold-off.