(H18) 98.050-98.055 Now The.....>

US EURODOLLAR TECHS: (H18) 98.050-98.055 Now The Near Term Support Brake

*RES 4: 98.175 Jan 4 low, now resistance

*RES 3: 98.145 Feb 6 high

*RES 2: 98.130 Jan 17 low, now resistance

*RES 1: 98.100 Hourly resistance

*PRICE: 98.065 @1245GMT

*SUP 1: 98.050/055 Intraday, Nov 2015 lows

*SUP 2: 97.995 38.2% Fibo of 95.980-99.240

*SUP 3: 97.960 1.618 swing of 98.200-98.585

*SUP 4: 97.935 76.4% Fibo of 97.530-99.240

*COMMENTARY* The decline has extended over the last couple of days, following

the short lived recovery to 98.145 on Tuesday. The subsequent slip below

98.100-98-080 support, now sees the 98.055-98.050 area as the next guide to

direction. Lower and we start on our way to 97.995, a 38.2% Fibo retrace level

of the 95.980-99.240 rise, seen over the last 5 years. In the meantime,

98.100-98.130 provides the near term bar to any recovery hopes.