Euro: Under Pressure

New York London GMT Tokyo Singapore

By Trading Central on May 28, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	77
Resistance2:	75.45
Resistance1:	74.3
Last:	71.77
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
71.77 (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

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