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Bearish Theme Strengthens *RES....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bearish Theme Strengthens
*RES 4: 1.1048/63 High Feb 5 / T-line resistance drawn off Dec 31 high
*RES 3: 1.1014 High Feb 6
*RES 2: 1.0958 High Feb 10
*RES 1: 1.0926 High Feb 12
*PRICE: 1.0848 @ 10:28 GMT Feb 14
*SUP 1: 1.0834 Low Feb 13 and intraday low
*SUP 2: 1.0803 1.618 projection of Jan 16 - Jan 29 decline from Feb 3 high
*SUP 3: 1.0777 1.764 projection of Jan 16 - Jan 29 decline from Feb 3 high
*SUP 4: 1.0748 2.0% lower 10-dma envelope
EURUSD remains in a clear downtrend and reinforced this condition Thursday as
weakness dominated the session. An impulsive bearish tone remains in place. Key
support at 1.0879, Oct 1 low gave way, reinforcing the bearish conditions and
open 1.0803. Initial resistance has been defined at 1.0926, the Wednesday high.
A break is needed to provide some relief. For now though, EURUSD remains heavy!

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