Consolidation Still Looks Like....>

EURO-DOLLAR TECHS: Consolidation Still Looks Like A 4th Wave Recovery

*RES 4: $1.1688 Hourly high Jun 14

*RES 3: $1.1645 Intraday high

*RES 2: $1.1620 Initial intraday pullback low, now resistance

*RES 1: $1.1595/00 Hourly resistance

*PRICE: $1.1578 @1532GMT 

*SUP 1: $1.1510 May 29

*SUP 2: $1.1480 1.618 swing $1.1543-$1.1645

*SUP 3: $1.1465 2% volatility band

*SUP 4: $1.1448 50% Fibo of $1.0340-$1.2556

*COMMENTARY* A combination of the Jun 7 bearish 'Shooting Star' candle close and

last week the upper 1% volatility band, have conspired to send us down and back

towards the year's previous $1.1510 low. The current consolidation looks like a

4th wave, ahead of another push lower, which on a loss of $1.1510 would target

$1.1480-$1.1448 next. Meanwhile, $1.1595-$1.1620 provides resistance, above

$1.1645 would allow a higher correction of losses from $1.1840-$1.1852.