Increased Correction Risk *RES....>

EURO-DOLLAR TECHS: Increased Correction Risk

*RES 4: $1.2131 Low Apr 27 now resistance

*RES 3: $1.2053 Low Apr 27 now resistance

*RES 2: $1.2032 High May 2

*RES 1: $1.1941 Hourly resistance May 7

*PRICE: $1.1914 @ 2130GMT

*SUP 1: $1.1871 Hourly support May 10 

*SUP 2: $1.1815 Low Dec 22 

*SUP 3: $1.1716 Monthly Low Dec 12 

*SUP 4: $1.1690 High Nov 3 now support

*COMMENTARY: Thursday's close above $1.1897 buys bulls breathing room and

increases the risk of a correction initially targeting $1.2018-53 where the

200-DMA is located when combined with correcting O/S studies. Above $1.2053 is

needed to shift initial focus back to $1.2153-1.2294. Bears now look for a close

below $1.1897 to see pressure back on 2018 lows. A close below 2018 lows is

needed to reconfirm a bearish bias and focus on $1.1690-1.1716.