ISE FX Euro: under pressure.

By Trading Central
04 December 2009 @ 09:20 am EDT

Update on supports and resistances.

Resistance3 : 72
Resistance2 : 70
Resistance1 : 68.5
Last Price : 66.72
Pivot Point: 68.5
Support1 : 65.5
Support2 : 63.3
Support3 : 62

Pivot: 68.5

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 is rebounding on its support but remains within a bearish channel.

72
70
68.5
66.72 (last)
65.5
63.3
62



*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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