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Ghost Recovery *RES 3: 1.1109.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Ghost Recovery
*RES 3: 1.1109 High Jan 23
*RES 2: 1.1081 Former trendline support drawn off the Oct 1 low
*RES 1: 1.1038 High Jan 27
*PRICE: 1.1027 @ 16:51 GMT Jan 30
*SUP 1: 1.0992 Low Jan 29
*SUP 2: 1.0981 Low Nov 29 and key support
*SUP 3: 1.0952 Low Oct 9 / 1.0% Lower 10-dma Envelope
After trading lower again Wednesday, the rate recovered somewhat in the Thursday
session, but price looked fragile. This maintains the current bearish tone
following last week's break of key trendline support at 1.1074, drawn off the
Oct 1 low. This continues to weigh on the pair and reinforces January's slide.
Attention is on the early Dec lows of 1.1003 and the late Nov low of 1.0981.
Momentum studies maintain a bearish posture and continue to point south. Firm
resistance is at 1.1085, the former trendline.

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