EURUSD- While part of Monday’s losses were recovered at the end of Tuesday trading session, EUR’s nearer term continues to point lower as long as it trades below the 1.4250/81 zone, its 1.272 Ext. (monthly chart)/Sept 28’07 high suggesting that the 1.4159/62 area, its 1.618 Fib Ext (Daily Chart)/Oct 22’95/Sept 25’07 highs and the 1.4033/00 zone, its Oct 05 & 09’07 lows/psycho level could be challenged. Below the latter though not expected will open risk towards the 1.3926, its Sept 13’07 high. The daily studies are negative and pointing lower. On the upside, a close back above the 1.4250/81 area is required to signal the resumption of its medium term uptrend towards its Oct 22’07 high/ its 1.272 Fib Ext. (daily chart) at 1.4342/63 ahead of its 1.618 Fib Ext./weekly rising channel top at 1.4463/68 and then its 1995 high at 1.4535.On the whole, while the remains vulnerable to the downside in the nearer to short term, its primary trend remains to the upside

Support Comments

1.4159/62 1.618 Fib Ext (Daily Chart)/Oct 22’95/Sept 25’07 highs

1.4099 Rising Trendline

1.4033/00 Oct 05 & 09’07 lows/psycho level

1.3926 Sept 13’07 high

1.4250/81 .272 Ext. (monthly chart)/Sept 28’07 high

1.4342/63 Oct 22’07 high/1.272 Fib Ext. (daily chart)

1.4463/68 1.618 Fib Ext. /weekly rising channel top

1.4535 Mar’1995 high