Weekly Euro Oversold

11/24/2008 2:13 pm EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst

chart

The plunge in the Euro has been more dramatic than anyone expected after it reached support in the 1.2300 area. Additional support is in the 1.1800 area. The weekly RSI3 is trying to turn up from oversold levels, so a rebound may be underway. There is first strong resistance at 1.3300, with stronger resistance at 1.3800.

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