Euro: Under Pressure

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By Trading Central on October 23, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	72
Resistance2:	70
Resistance1:	69
Last:	66.56
Pivot:	69
Support1:	65.5
Support2:	63.3
Support3:	62.5

Pivot: 69

Our preference: Short positions below 69 with targets @ 65.5 & 63.3 in extension.

Alternative scenario: Above 69 look for further upside with 70 & 72 as targets.

Comment: the RSI is capped by a MT declining trend line, the pair is on the downside and is breaking below its previous low.

72
70
69
66.56 (last)
65.5
63.3
62.5

*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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