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Euro: Under Pressure 04/10/2010
Written by article default Monday, 04 October 2010 04:40
Update on supports and resistances.
Pivot: 75
Our preference: Short positions below 75 with targets @ 72.5 & 70 in extension.
Alternative scenario: Above 75 look for further upside with 76 & 77.4 as targets.
Comment: the pair has broken below its previous low and is approaching its next support, the RSI is badly directed.
77.4
76
75
72.98 (last)
72.5
70
68.4
*USD/EUR Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the EURO.