Euro: Under Pressure

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By Trading Central on November 2, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	72
Resistance2:	70
Resistance1:	69
Last:	67.68
Pivot:	69
Support1:	66.5
Support2:	65.5
Support3:	63.3

Pivot: 69

Our preference: Short positions below 69 with targets @ 66.5 & 65.5 in extension.

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

Comment: the pair has rebounded on its support but remains within a bearish channel, the RSI is challenging its MT declining trend line.

72
70
69
67.68 (last)
66.5
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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