Euro: Rebound Expected

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By Trading Central on July 1, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	76.5
Resistance2:	74.3
Resistance1:	73
Last:	70.66
Pivot:	69.7
Support1:	69.7
Support2:	68
Support3:	65.5

Pivot: 69.7

Our preference: Long positions above 69.7 with targets @ 73 & 74.3 in extension.

Alternative scenario: Below 69.7 look for further downside with 68 & 65.5 as targets.

Comment: the pair has struck against its resistance and is pulling back on its support ahead of a rebound.

76.5
74.3
73
70.66 (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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