Euro: Under Pressure

New York London GMT Tokyo Singapore

By Trading Central on May 26, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	77
Resistance2:	75.45
Resistance1:	74.3
Last:	71.83
Pivot:	74.3
Support1:	71
Support2:	69.7
Support3:	68

Pivot: 74.3

Our preference: Short positions below 74.3 with targets @ 71 & 69.7 in extension.

Alternative scenario: Above 74.3 look for further upside with 75.45 & 77 as targets.

Comment: the pair remains on the downside and should face a further weakness towards its next support, the RSI is bearish.

77
75.45
74.3
71.83 (last)
71
69.7
68

*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

Check Out These Related Posts:

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

Recent News:

Canadian Retail Sales Continue To Rebound In September - 1 min ago
Hungary Central Bank Lowers Key Policy Rate As Expected - 2 mins ago
ECB’s Ordonez: Markets Not Expect Rate Hike Until Sometime In H2 2010 - 3 mins ago
Bay Street Stocks Set To Rally Monday - Canadian Commentary - 7 mins ago
IMF Chief: Global Economy Remains Vulnerable; Early Exit May Kill Recovery - 17 mins ago

Opinions From Our Contributors

Commodities China Owns The Heavy Stone Has Gold Just Broken Out Of Its Trend Channel? The Dirty Little Secrets Of Warrants, Options & LEAPS Interesting Articles To Read The Forgotten Commodity - Rice Commodity Investing: ETFs Or Mutual Funds? John Paulson Launching A Gold Fund With $250M Of His Own Money Profit From The Falling Dollar With ETFs Wheat Playing Catch-Up As Commodities Rally Regulators And Commodity ETFs: Why They’re Evolving Read More »	Financials Financial ETFs Still Remain Vulnerable Ron Paul Thinks That Fed “Oversight Is Laughable” Buffett Borrows For Rail Acquisition Investment Ideas: Here Are 3 Dirt Cheap Stocks Treasury To Auction TARP Warrants Dear Reader, We Cannot Criticize Goldman Sachs. Instead, We Admire It 2010 Outlook For The US Banking Industry Get Rid Of Your General Electric Shares Tufts Endowment And Risk Taking? Regional Bank ETFs: The Bad And The Good Read More »	Exchange Traded Funds Biggest Gainer ETFs For The Week Ended 22 Nov What You Should Know About Precious Metals ETFs And Taxes Main Street Vs. Wall Street: Using ETFs To Capitalize Why You Should Watch This Leisure & Entertainment ETF Biotech Investing: Spread Your Risks With ETFs Are You Going For Yield With Your ETFs? Rydex Market Timers: At It Again Is An Asset Bubble Forming In Hong Kong’s ETF? Senior Secured Floating Rate Bonds: The Best Investments To Own When Interest Rates Rise Why Gold Will Surge To A Record $2,000 In 2010 Read More »
Stocks Stock Investor Sentiment: Will This Week Be Another Repeat Of The Last Two? How Does Volatility Affect Stock Options? There Is A Considerable Gap Between What The Fed’s Saying And What It’s Thinking S&P 500 Flat Over The Week As Investors Reflect On Prices Versus Fundamentals Singapore Stock Market Update: Focus On Blue Chips I’ve Noticed A Profitable Pattern Stock Picks For Monday: Nanometrics, Melco Crown Entertainment, MetroPCS Communications And Cell Therapeutics S&P 500 Index Is Still Overvalued This Small Oil Exploration Company Is Ripe For A Takeover… Here’s How To Profit 3 Steps To Becoming A More Successful Trader Read More »	Forex Alternatives To The US Dollar As The World’s Reserve Currency British Pound Retracing Friday’s Slide Against The US Dollar Month To Date Review Of The Market One Reason Why The US Dollar Might Rise Forex Wrap-up: A Massive Short-Covering Rally In The US Dollar May Just Be Starting Australian Dollar: Caution Canadian Dollar: Caution “Audit The Fed” Bill Moves Along USD/JPY Pushing Against The 100 Hour Moving Average At 89.11 Swiss Franc: The Downside Prevails Read More »	Economy China: A Riddle Wrapped In An Enigma Should A House Be Treated As A Great Investment? Economic, News And US Earnings Reports For The Week Nov 23 - 27 Spitting On The Boomers’ Financial Legacy The Economists Are Wrong Again What’s Triggering America’s Populist Rage? China Will Blow Up Before It Grows Up Contrary To Conventional Wisdom, When China Drops Its Currency Peg, The Immediate Benefits Will Flow To The Chinese, Not Americans Societe Generale Tells Investors How To Prepare For Potential “Global Collapse” Obama Commits To Free Trade Agreement With South Korea, But Auto Trade Remains An Obstacle Read More »