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Bullish engulfing candle: *RES....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bullish engulfing candle:
*RES 4: 1.1376    High Jul 1
*RES 3: 1.1326/44 200-dma / Low Jun 25
*RES 2: 1.1302    50% retracement of the Jun 25-Jul 9 sell-off
*RES 1: 1.1288    High Jul 5
*PRICE: 1.1274    @ 08:23 GMT July 11
*SUP 1: 1.1251    Intraday low
*SUP 2: 1.1193    Low Jul 9
*SUP 3: 1.1181    Jun 18 low
*SUP 4: 1.1149    2% lower Bollinger band
As dollar sales spilled over into Asia/Europe, EURUSD extended its recovery back
above the 100-dma & former channel support at 1.1266. Note that yesterday's
candle pattern is a bullish engulfing reversal and suggests that a stronger
short-term shift in sentiment has occurred, favouring bulls. Resistance is at
1.1288, the high of Jul 7. A break would open the 200-dma at 1.1326. First
support lies at 1.1251.

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