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Euro: Under Pressure

By Trading Central on November 24, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:72
Resistance2:70
Resistance1:68.5
Last:66.93
Pivot:68.5
Support1:66.4
Support2:65.5
Support3:63.3
Pivot: 68.5

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 is challenging its support.

72
70
68.5
66.93 (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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