Euro Monthly Outlook

11/03/2008 1:06 pm EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst

chart

The euro's plunge from the July highs looks dramatic even on the monthly chart as it has reached next long-term support at 1.2200. Further support at 1.1600. The monthly RSI3 still looks quite negative, while the weekly analysis suggests an oversold bounce is likely over the next 2-4 weeks.

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