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Increased Correction Risk *RES....>

EURO-DOLLAR TECHS
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.

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