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Euro: Under Pressure
By Trading Central on November 11, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 72 |
| Resistance2: | 70 |
| Resistance1: | 68.5 |
| Last: | 66.54 |
| Pivot: | 68.5 |
| Support1: | 65.5 |
| Support2: | 63.3 |
| Support3: | 62.5 |
Our preference: Short positions below 68.5 with targets @ 65.5 & 63.3 in extension.
Alternative scenario: Above 68.5 look for further upside with 70 & 72 as targets.
Comment: the pair remains within a bearish channel and is challenging its support, the RSI is badly directed.
72
70
68.5
66.54 (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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