Euro: Under Pressure

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By Trading Central on May 19, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	78.5
Resistance2:	77
Resistance1:	75.45
Last:	73.59
Pivot:	75.45
Support1:	72.8
Support2:	71
Support3:	69.7

Pivot: 75.45

Our preference: Short positions below 75.45 with targets @ 72.8 & 71 in extension.

Alternative scenario: Above 75.45 look for further upside with 77 & 78.5 as targets.

Comment: the pair remains under pressure and should reach its support as the RSI is badly directed.

78.5
77
75.45
73.59 (last)
72.8
71
69.7

*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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