Euro: The Downside Prevails

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Euro: The Downside Prevails

By Trading Central on June 4, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	74.3
Resistance2:	73
Resistance1:	71.5
Last:	70.63
Pivot:	71.5
Support1:	69.7
Support2:	68
Support3:	65.5

Pivot: 71.5

Our preference: Short positions below 71.5 with targets @ 69.7 & 68 in extension.

Alternative scenario: Above 71.5 look for further upside with 73 & 74.3 as targets.

Comment: the pair is capped by a declining trend line.

74.3
73
71.5
70.63 (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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