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Back to neutral: *RES 3: 1.1164...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Back to neutral:
*RES 3: 1.1164 High Aug 26
*RES 2: 1.1136/50 2% Upper Bollinger Band / 1.0% 10-dma envelope
*RES 1: 1.1109 High Sep 12
*PRICE: 1.1057 @ 15:28 GMT Sep 17
*SUP 1: 1.0994 Low Sep 16
*SUP 2: 1.0927/26 Low Sep 12 and Sep 3
*SUP 3: 1.0916 3.0% Lower Bollinger Band
Having faltered at the bull channel resistance drawn off the Jun 25 high,
EUR/USD started the session on the backfoot, but this swiftly reversed into the
London close, leaving the outlook more neutral. Friday's price action in candle
terms was a shooting star (inverted hammer), an early warning of a top.
Tuesday's pattern is a bearish engulfing reversal and reinforces recent bearish
developments. Monday's sell-off refocuses attention on the post-ECB lows at
1.0927. To reinstate a bullish outlook, a break of Friday's 1.1109 high is
required.

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