ISE FX Euro: under pressure.

By Trading Central
02 November 2009 @ 08:50 am EDT

Update on supports and resistances.

Resistance3 : 72
Resistance2 : 70
Resistance1 : 69
Last Price : 67.68
Pivot Point: 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

For more forex information go to www.tradingcentral.com

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