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Firm Following Channel............>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Firm Following Channel Breakout:
*RES 4: 1.1142 100-dma
*RES 3: 1.1109 High Sep 13
*RES 2: 1.1076 High Sep 18
*RES 1: 1.1063 High Oct 11
*PRICE: 1.1033 @ 04:16 GMT Oct 14
*SUP 1: 1.1001/0985 Low Oct 11 / Former channel top drawn off Jun 25 high
*SUP 2: 1.0941 Low Oct 3 and Oct 8
*SUP 3: 1.0904 Low Oct 2
*SUP 4: 1.0879 Low Oct 1 and bear trigger
EURUSD finally cracked the channel top last Thursday. This has improved the
medium-term outlook for bulls and confirmed a reversal to bullish. The pair
strengthened further Friday, breaching the 50-dma resistance. Looking at
momentum studies, these indicators have shifted back to bull mode reinforcing
the developing positive theme. The former channel top-now-support is at 1.0985
and would be expected to limit any near-term pullback.

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