Euro: The Downside Prevails

New York London GMT Tokyo Singapore

Euro: The Downside Prevails

By Trading Central on June 12, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	76.5
Resistance2:	74.3
Resistance1:	73
Last:	71.6
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 & 76.5 as targets.

Comment: the pair is rebounding but should strike against its next resistance.

76.5
74.3
73
71.6 (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

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:

Weak Open Seen For Jakarta Shares - 2 mins ago
Economic Recovery Still Fragile Says ECB’s Provopoulos - 7 mins ago
Australian Market Trades Firm - 16 mins ago
Soft Open Expected For Hong Kong - 34 mins ago
Japan Corporate Service Prices -2.2% On Year In Oct - 51 mins ago

Opinions From Our Contributors

Commodities The New Crude Oil Benchmark That Could Change The Oil Market’s Price Dynamics Why Gold Prices Could Fall From Here… And Two Ways To Play The Move Gold Rush Creating Issues For Gold Buyers Will Copper Continue To Shine In ‘09? When Do We Sell Gold? Silver ETFs: More Gains To Come? Oil Seems Like It’s Going Nowhere… But The Story Is Very Different Below The Surface Distorted IEA Oil Reserve Figures Create Biofuel Opportunities In “White Gold” Region Of Central Asia The Simplest Reason Gold Will Soar Physical Gold, Silver And Oil Out-Performing Their Stocks? Read More »	Financials Washington Examiner: “A Fox Is Guarding The Henhouse At The SEC” US Home Prices Continue To Rise Bank Of America Call Options In Hot Demand Stock Market News: HP, Analog Devices, Heinz, Medtronic Report Strong Results, Citigroup Selling Diners Club To Bank Of Montreal Stock Market Briefs: Twitter May Consider IPO, Tyson Foods Beats Estimates Don’t Count Out Actively Managed ETFs U.S. Bank Failures Reach 124 Financial ETFs Still Remain Vulnerable Ron Paul Thinks That Fed “Oversight Is Laughable” Buffett Borrows For Rail Acquisition Read More »	Exchange Traded Funds Murdoch’s Gamble: Will It Benefit Media ETFs? Why Agriculture ETF Outlook Appears Promising Is Low Interest Creating A Sovereign Debt Bubble? Protect Yourself Against An Imminent Stock Market Correction Japan ETFs: The New War They’re Waging India ETFs: Too Much, Too Soon? ETF Update: Health Stocks And Health Care Legislation Biggest Gainer ETFs For The Week Ended 22 Nov Has Gold Just Broken Out Of Its Trend Channel? What You Should Know About Precious Metals ETFs And Taxes Read More »
Stocks Option Traders Barter For Calls On EBAY Will Emerging-Market Outperformance Last? Stock Market Movers: Dollar Tree, Origin Agritech, US Airways Group How To Value Stocks Using Discounted Cash Flow Stocks To Watch Tuesday: Curis, Cell Therapeutics, Qwest Indian Stock Markets: Sensex Down 49.10 On Tuesday Can The Retail Sector Rouse The Recovery? Stock Charts For Tuesday: S&P 500, Nano, Hertz A Different Look At Recent Breadth Divergences In The NYSE Insider Selling Can Be An Important Tool In Determining Potential Trouble For Both Individual Stocks And The Broader Market Read More »	Forex Risk Aversion Takes A Back Seat In Forex Markets Australian Dollar: Caution Swiss Franc: The Downside Prevails Canadian Dollar: Caution Japanese Yen: Under Pressure British Pound: The Downside Prevails Euro: Under Pressure Watching EUR/USD At The 1.4945 Level Where 100 & 200 Bar Moving Averages Converge Forex Markets Drift Due To Lack Of Drivers Tuesday’s Forex Outlook Read More »	Economy Summary Of Holiday Spending Surveys & Reports Consumer Confidence Increasing The Great Louisiana Healthcare Rip-Off Consumer Attitudes: The Future Of Saving And Spending Economic Highlights: GDP Up 2.8%, Corporate Profits Increase By $130 Billion With T-Bill Yields At Zero, It’s Time To Beware Of The “Bond Bears” U.S. Economy Will Grow Faster Than Expected, Jobs To Return To Growth Next Year, Economists Say Government Debt - The New Subprime? Heeding The Populist Call Here’s A Sector To Short Read More »