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Focus Still On Trendline..........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Focus Still On Trendline Resistance
*RES 4: 1.1143 High Jan 17
*RES 3: 1.1118 High Jan 21
*RES 2: 1.1107 Trendline drawn off the Dec 31 high
*RES 1: 1.1096/99 High Jan 31 / 50-dma
*PRICE: 1.1059 @ 16:31 GMT Feb 3
*SUP 1: 1.1017 Low Jan 31
*SUP 2: 1.0992 Low Jan 29
*SUP 3: 1.0981 Low Nov 29 and key support
*SUP 4: 1.0952/42 Low Oct 9 / 1.0% Lower 10-dma Envelope
EURUSD found some resistance Monday. The bounce Friday does threaten the recent
bearish outlook however before any reversal is confirmed, price needs to clear
trendline resistance at 1.1107, drawn off the Dec 31 high. Until then gains are
likely a correction with attention on the late Nov low of 1.0981. Clearance of
the trendline would alter the picture and instead signal a shift in sentiment
opening 1.1118 and 1.1143. Initial support lies at Friday's 1.1017 low.

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