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Euro: Under Pressure

By Trading Central on October 5, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:74.3
Resistance2:72
Resistance1:70
Last:68.5
Pivot:70
Support1:67
Support2:65.5
Support3:63.3
Pivot: 70

Our preference: Short positions below 70 with targets @ 67 & 65.5 in extension.

Alternative scenario: Above 70 look for further upside with 72 & 74.3 as targets.

Comment: the RSI is capped by a MT declining trend line, the pair should strike against its resistance.

74.3
72
70
68.5 (last)
67
65.5
63.3

*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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