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Hammer reversal?: *RES 3:.........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Hammer reversal?:
*RES 3: 1.1098 High Aug 28
*RES 2: 1.1027 Low Aug 1 and former bear trigger
*RES 1: 1.1014 High Sep 2
*PRICE: 1.1013 @ 09:11 GMT Sep 4
*SUP 1: 1.0926 Low Sep 3
*SUP 2: 1.0912/01 3.0% Lower Bollinger Band / Bear channel base drawn off Jun 25
high
*SUP 3: 1.0889 1.618% swing of 1.1027 - 1.1250
EURUSD appeared weak throughout European hours yesterday before staging a modest
recovery. This has yet to shift the outlook more positive, with bulls needing to
move back above the Aug 1 low of 1.1027 and the Aug 28 high of 1.1098 to
threaten the trend. Note that yesterday's candle pattern is a hammer reversal,
however additional confirmation is required to validate it. For now further
weakness is anticipated, the focus is on 1.0912/01 next.

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