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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • RES 4: 4219.23 Bull channel top drawn off the Feb 26 low
  • RES 3: 4175.00 Low Nov 26, 2007 (cont)
  • RES 2: 4140.00 High Jan 18, 2008 (cont)
  • RES 1: 4116.00 High Jun 8
  • PRICE: 4105.00 @ 05:54 BST Jun 11
  • SUP 1: 4050.53/4016.00 20-day EMA / Low May 27
  • SUP 2: 3969.26/59.10 50-day EMA / Channel base from Feb 26 low
  • SUP 3: 3882.00 Low May 19
  • SUP 4: 3844.00 Low May 13 and the bear trigger

EUROSTOXX 50 futures are unchanged. Conditions remain bullish with the contract achieving a fresh trend high of 4116.00 Jun 8 The move higher this week confirms a resumption of the underlying uptrend and maintains the broad positive price sequence of higher highs and higher lows. The focus is on 4140.00 next, Jan 18, 2008 high. On the downside, firm trend support is unchanged at 3882.00, May 19 low. Initial support lies at 4050.53.