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Bearish Theme Remains Intact......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bearish Theme Remains Intact
*RES 4: 1.1129 Trendline resistance drawn off the Dec 31 high
*RES 3: 1.1118 High Jan 21
*RES 2: 1.1109 High Jan 23
*RES 1: 1.1081 Former trendline support drawn off the Oct 1 low
*PRICE: 1.1009 @ 16:45 GMT Jan 28
*SUP 1: 1.0998 Low Dec 2
*SUP 2: 1.0981 Low Nov 29 and key support
*SUP 3: 1.0977 1.0% Lower 10-dma Envelope
*SUP 4: 1.0952 Low Oct 9
EURUSD is trading at its recent lows and set to remain vulnerable near-term.
This outlook follows last week's break of key trendline support at 1.1074, drawn
off the Oct 1 low. The move reinforces January's bearish tone with attention on
the early Dec lows of 1.1003 and the late Nov low of 1.0981. Momentum studies
maintain bearish posture with MACD and RSI measures pointing south. Firm
resistance is seen at 1.1081, the former trendline resistance.

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