EURO CURRENCY INDEX : ANOTHER SUPPORT WAS BROKEN

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Euro Currency Index

The Euro Currency Index (EUR_I) represents the arithmetic ratio of four major currencies against the Euro: US-Dollar, British Pound, Japanese Yen and Swiss Franc. All currencies are expressed in units of currency per Euro. The index was launched in 2004 by the exchange portal Stooq.com. Underlying are 100 points on 4 January 1971. Before the introduction of the European single currency on 1 January 1999 an exchange rate of 1 Euro = 1.95583 Deutsche mark was calculated.

4.1.17


The EURO Index continue to struggle below prior support level105-105.50 which now serve as resistance. The Euro continues to look vulnerable and ready to test lower channel support level at 100.0; this will be a very important psychological price level for the index.