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PIPELINE

$2B Bank of America Launched

US TSY FUTURES

Paring Losses

BRAZIL

Trade Balance Broadly In Line With Estimates

EURUSD TECHS

Testing The 20-Day EMA

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  • RES 4: 116.08 1.764 proj of Apr 23 - Jul 2 - Aug 4 price swing
  • RES 3: 115.51 High Mar 10, 2017
  • RES 2: 114.99 1.50 proj of Apr 23 - Jul 2 - Aug 4 price swing
  • RES 1: 114.70/73 High Oct 20 / High Nov 6, 2017
  • PRICE: 113.66 @ 16:14 BST Oct 25
  • SUP 1: 112.81 20-day EMA
  • SUP 2: 112.08 High Sep 30 and a recent breakout level
  • SUP 3: 111.51 Low Oct 8
  • SUP 4: 110.82/80 Low Oct 4 / High Aug 11

USDJPY dips are considered corrective and bullish trend conditions remain intact. A recent key bullish technical development has been the confirmed breach of a long-term trendline (at 113.41) drawn off the Dec 1975 high. The trend higher has accelerated and momentum remains firm. Attention is on 115.51, the Mar 10 2017 high. On the downside, initial firm support is seen at 112.08, Sep 30 high and a recent breakout level.