Euro: Under Pressure

New York London GMT Tokyo Singapore

By Trading Central on May 29, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	75.45
Resistance2:	74.3
Resistance1:	73
Last:	70.91
Pivot:	73
Support1:	69.7
Support2:	68
Support3:	65.5

Pivot: 73

Our preference: Short positions below 73 with targets @ 69.7 & 68 in extension.

Alternative scenario: Above 73 look for further upside with 74.3 & 75.45 as targets.

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

75.45
74.3
73
70.91 (last)
69.7
68
65.5

*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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