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Looking A Little Heavy *RES 4:....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Looking A Little Heavy
*RES 4: $1.2254 High Dec 25 2014
*RES 3: $1.2092 2017 High Sept 8
*RES 2: $1.2052 High Jan 8
*RES 1: $1.2009 Hourly resistance Jan 8
*PRICE: $1.1963 @ 2000GMT
*SUP 1: $1.1910 High Dec 27 now support 
*SUP 2: $1.1893 21-DMA 
*SUP 3: $1.1842 Daily Bull channel base (off Nov low) 
*SUP 4: $1.1826 100-DMA
*COMMENTARY: Continued hesitation ahead of 2017 highs has taken its toll with
the sell-off Monday leaving the pair looking heavy and seeing focus on support
layers $1.1802-93 where key DMAs and the bull channel base are situated. Layers
of resistance accumulating and daily studies correcting from O/B adds weight to
the bearish case. Bulls now need a close above $1.2092 to reconfirm a bullish
bias initially targeting $1.2254.

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