Euro: The Upside Prevails

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Euro: The Upside Prevails

By Trading Central on February 5, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	82.5
Resistance2:	81
Resistance1:	79.4
Last:	78.2
Pivot:	76
Support1:	76
Support2:	75
Support3:	73

Pivot: 76

Our preference: Long positions above 76 with targets @ 79.4 & 81 in extension.

Alternative scenario: Below 76 look for further downside with 75 & 73 as targets.

Comment: the pair remains within a bullish channel and is approaching its resistance.

82.5
81
79.4
78.2 (last)
76
75
73

*USD/EUR Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the EURO. For details go to www.ise.com

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