As leading European economies are being singled out one by one by Moody’s, other creditors, and key economic bodies, the value of the Euro has fallen below $1.30 for the first times since April 2009.

Riots have begun in Greece as citizens are growing more concerned and frustrated about the state of that country’s economy. Debt-laden and cash-strapped, this top European economy is exploring options for bailouts and support from the International Monetary Fund and others.

Spain has also had its problems, but it is Portugal that is the latest country being reviewed by Moody’s for a possible credit rating downgrade. The country currently carries an Aa2 bond rating, but Moody’s says it plans to review for a possible one to two notch downgrade within the next three months.

Greece is currently the icon of struggles in the broader European economic landscape, but concerns continue to grow that its problems are becoming more widespread throughout the marketplace.

The Euro is currently worth just $1.2843 as it seems destined for a major test of long-term support at the $1.25 level. Without some type of major economic news or intervention, it appears quite possible the Euro could finally fall below this level of support that has held multiple times in the last two years.

A significant break below this mark could bring a longer-term move toward $1 into question. Many currency forecasters had predicted that Euro could test the $1 level during 2009, but this was never close to happening as the US economy was dealing with its own issues.

Now that housing and labor markets appear to be shoring up in the US, the focus has shifted in terms of the balance of global economic concern. Despite not yet being out of its own hole, the US economy seems golden compared to what many European markets are now struggling with.

Not surprisingly, many speculators have opted for other investments like gold and oil, which continue to remain above $1,160 per ounce and $80 per barrel, respectively.

The fall of European markets certainly is not good for the global economy. However, for those looking to make some quick cash on their struggles, the dollar appears to present a potential opportunity at the present time.