USD/EUR Index: Rebound Expected

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USD/EUR Index: Rebound Expected

By Trading Central on February 17, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	82.5
Resistance2:	81
Resistance1:	79.5
Last:	79.4
Pivot:	75
Support1:	75
Support2:	73
Support3:	71.5

Pivot: 75

Our preference: Long positions above 75 with targets @ 79.5 & 81 in extension.

Alternative scenario: Below 75 look for further downside with 73 & 71.5 as targets.

Comment: the pair has rebounded on its bullish channel lower boundary and is challenging its resistance.

82.5
81
79.5
79.4 (last)
75
73
71.5

*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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