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Holding Above Trendline Support...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Holding Above Trendline Support
*RES 4: 1.1286 High Jul 11 and 76.4% of the Jun 25 - Oct 1 Decline
*RES 3: 1.1250 High Aug 6
*RES 2: 1.1239 High Dec 31 and bull trigger
*RES 1: 1.1206 High Jan 6
*PRICE: 1.1151 @ 05:38 GMT Jan 8
*SUP 1: 1.1134 Low Jan 6
*SUP 2: 1.1125 Low Jan 3, trendline support area and key near-term support
*SUP 3: 1.1096 Low Dec 27
*SUP 4: 1.1066/65 Low Dec 20 / 100-dma
EURUSD was offered yesterday. Despite the recent pullback, Friday's 1.1125 low
and support remains intact. In candle terms, Friday's price pattern is a hammer
signalling a reversal. Furthermore, there is a trendline support that intersects
at 1.1126 and reinforces the importance of the 1.1125 as support. The trendline
is drawn off the Nov 29 low. The underlying outlook is still bullish with the
focus on last week's high of 1.1239. A break would open 1.1250 and 1.1286.

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