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EURO-DOLLAR TECHS: Bearish Theme Intact For Now
*RES 4: 1.1140 High Nov 5
*RES 3: 1.1093 High Nov 6
*RES 2: 1.1073 Former double top midpoint
*RES 1: 1.1043 Nov 11 high
*PRICE: 1.1016 18:05 GMT Nov 14
*SUP 1: 1.0989 Intraday low
*SUP 2: 1.0967 Double top projection
*SUP 3: 1.0950 76.4% of Oct 1 - Oct 21 climb
*SUP 4: 1.0904 Oct 2 low
EURUSD maintains a weaker outlook despite the bounce off today's low. The
bearish bias follows the recent double top confirmation on Nov 5 when prices
traded through support at 1.1073, Oct 25 low. The double top is not a
significant reversal and at the very least is allowing a correction to unfold
following the reversal of the Oct 1- Oct 21 rally. The pattern projects a move
to 1.0967. Resistance is seen at 1.1073, the double top midpoint.