Downside Back Under Pressure......>

EURO-DOLLAR TECHS: Downside Back Under Pressure After $1.1624-$1.1616 Cap

*RES 4: $1.1725/30 Oct 23, Oct 18 lows, now resistance

*RES 3: $1.1690 Nov 3 high

*RES 2: $1.1660 Hourly congestion Nov 2-Nov 3

*RES 1: $1.1616/24 Nov 6, Nov 3 highs

*PRICE: $1.1571 @1630GMT 

*SUP 1: $1.1555 Hourly support

*SUP 2: $1.1529 1% volatility band

*SUP 3: $1.1502/06 swing of $1.1574-$1.1690 & $1.1649-$1.1880

*SUP 4: $1.1487 9 week bull channel base projection

*COMMENTARY* Unable to move any higher than $1.1688-$1.1690 last week. While

below the slightly higher $1.1725-30 area, this still suggests that the recovery

from last week's $1.1574 low is just a 4th wave correction. The latter back

under pressure today, below sees $1.1555-$1.1529 next. Any lower and the

downside will seek out a couple of swing targets around $1.1506-$1.1502 next.

Resistance $1.1616-$1.1624 and then more importantly $1.1660.