Current Consolidation Still.......>

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

*RES 4: $1.1725 Jun 13 low, now resistance

*RES 3: $1.1698 50% Fibo of $1.1852-$1.1543

*RES 2: $1.1661 38.2% Fibo of $1.1852-$1.1543

*RES 1: $1.1645 Intraday high

*PRICE: $1.1582 @0801GMT 

*SUP 1: $1.1543/63 Jun 15 low, hourly support

*SUP 2: $1.1510 May 29 low

*SUP 3: $1.1471/80 2% vol band, 1.618 swing $1.1543-$1.1645

*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, 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, $1.1645 currently keeps rallies in check, above

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