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Consolidates But Remains..........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Consolidates But Remains Bearish
*RES 4: 1.1179 High Oct 21 and bull trigger
*RES 3: 1.1140 High Nov 5
*RES 2: 1.1093 High Nov 6
*RES 1: 1.1073 Former double top midpoint
*PRICE: 1.1024 10:14 GMT Nov 12
*SUP 1: 1.0994/91 Low Oct 15 / 61.8% of Oct 1 - Oct 21 rally
*SUP 2: 1.0967 Double top projection
*SUP 3: 1.0950 76.4% of Oct 1 - Oct 21 climb
*SUP 4: 1.0904 Oct 2 low
EURUSD is quiet this morning however a bearish focus is maintained. This follows
last week's move lower where the break on Nov 5 of 1.1073, Oct 25 low confirmed
a double top reversal. This double top is not a significant reversal, but does
highlight a bearish theme for now and suggests scope for a deeper short-term
decline towards 1.0967, the patterns projection. Look for further weakness to
unfold with resistance at 1.1093.

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