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Bullish Structure: *RES 4:........>

EURO-DOLLAR TECHS: Bullish Structure:
*RES 4: 1.1139 100-dma
*RES 3: 1.1109 High Sep 13
*RES 2: 1.1076 High Sep 18
*RES 1: 1.1063 High Oct 11
*PRICE: 1.1031 04:27 GMT Oct 16
*SUP 1: 1.1001/0975 Low Oct 11 / Former channel top drawn off Jun 25 high
*SUP 2: 1.0941 Low Oct 3 and Oct 8
*SUP 3: 1.0904 Low Oct 2
*SUP 4: 1.0879 Low Oct 1 and bear trigger
EURUSD traded lower yesterday although managed to recover off the day low. The
pair maintains the bullish tone following last weeks break above the channel
top. This not only improved the medium-term outlook, it confirmed a bullish
reversal. Momentum studies are pointing north reinforcing the developing
positive theme. The former channel top-now-support intersects at 1.0975 today
and would be expected to limit any near-term pullback.

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