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Euro: Under Pressure
By Trading Central on November 18, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 72 |
| Resistance2: | 70 |
| Resistance1: | 68.5 |
| Last: | 66.86 |
| Pivot: | 68.5 |
| Support1: | 66.4 |
| Support2: | 65.5 |
| Support3: | 63.3 |
Our preference: Short positions below 68.5 with targets @ 66.4 & 65.5 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 should face a further weakness.
72
70
68.5
66.86 (last)
66.4
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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