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Bears Focused On Channel Base.....>

EURO-DOLLAR TECHS: Bears Focused On Channel Base
*RES 4: $1.1717 100-DMA 
*RES 3: $1.1690 High Nov 3 
*RES 2: $1.1639 Hourly support Nov 3 now resistance 
*RES 1: $1.1624 High Nov 6
*PRICE: $1.1596 @ 0225GMT
*SUP 1: $1.1554 Low Nov 7 
*SUP 2: $1.1519 Bollinger band base 
*SUP 3: $1.1466 Daily bear channel base 
*SUP 4: $1.1369 High July 5 now support
*COMMENTARY: Bears took comfort in the 100-DMA capping last week with focus on
the bear channel base ($1.1466). O/S daily studies and the Bollinger band base
remain key concerns for bears with a close below $1.1554 now needed to add
weight to their case. Layers of resistance remain with bulls needing a close
above $1.1624 to ease immediate bearish pressure and above the channel top
($1.1741) to shift focus to $1.1809-80.

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