The Euro just broke the 1.4609 support level, after dipping below it the last two trading sessions. It quickly took out the last two sessions’ lows in a dive down. No wonder as the European markets were opening very weak today due to the credit crisis.
Posts from ‘September, 2008’
Euro resistance & support levels
In the last 4 trading sessions the Euro has not closed below a support level at about 1.4609. The last two sessions it dipped below, but closed above, clearly testing the level. The same level acted as support in August as well as late last year and early this year. In February it was sitting [...]
Euro trend turn
On 11 Sep 08 the Euro repeated a down range from late 04 to late 05. Ranges like to repeat themselves so this in itself is a good indication that the downtrend has turned. Further to the range repetition the low on 11 Sep 08 is exactly the same as the July 07 high (support/resistance [...]