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Bulls Targeting Weekly Bear.......>

EURO-DOLLAR TECHS: Bulls Targeting Weekly Bear Channel Top
*RES 4: $1.2694 LT Weekly Bear Channel top
*RES 3: $1.2569 Monthly High Dec 16 2014
*RES 2: $1.2360 Low Dec 10 2014 now resistance
*RES 1: $1.2254 High Dec 25 2014
*PRICE: $1.2209 @ 0530GMT
*SUP 1: $1.2156 Hourly resistance Jan 12 now support 
*SUP 2: $1.2111 Hourly support Jan 12 
*SUP 3: $1.2075 Hourly resistance Jan 12a now support 
*SUP 4: $1.2018 High Jan 10 now support
*COMMENTARY: The 21-DMA ($1.1962) provided the base last week for a rally to
3+yr highs with bulls now focused on the LT weekly bear channel top off mid 2008
highs. Daily studies have a little room to move before O/B is an issue. Layers
of support are accumulating with bears now needing a close below $1.2075 to ease
bullish pressure and below $1.2018 to shift focus back to $1.1835-1.1962 where
key DMAs are noted.

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