Euro: Rebound Expected

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By Trading Central on April 23, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	81
Resistance2:	80
Resistance1:	78.5
Last:	76.85
Pivot:	74
Support1:	74
Support2:	72.8
Support3:	70

Pivot: 74

Our preference: Long positions above 74 with targets @ 78.5 & 80 in extension.

Alternative scenario: Below 74 look for further downside with 72.8 & 70 as targets.

Comment: the pair is pulling back on its new support (former resistance) ahead of a rebound.

81
80
78.5
76.85 (last)
74
72.8
70

*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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