Projection Target At $1.1615......>

EURO-DOLLAR TECHS: Projection Target At $1.1615 The Brake To Deeper Fall

*RES 4: $1.1753 Oct 25 low, now resistance

*RES 3: $1.1725/30 Oct 23, Oct 18 lows, now resistance

*RES 2: $1.1700 Hourly high Oct 26

*RES 1: $1.1670 Hourly resistance

*PRICE: $1.1626 @0905GMT 

*SUP 1: $1.1615 1.618x $1.1880-$1.1730 from $1.1858

*SUP 2: $1.1555 5 week bear channel base projection

*SUP 3: $1.1522 2% volatility band

*SUP 4: $1.1506 1.618 swing of $1.1649-$1.1880

*COMMENTARY* In the slightly bigger picture, the failure to regain the head and

shoulders neckline, at $1.1901 by time today, over the last month, has finally

conspired to send us lower. The loss of the Oct 6 low at $1.1649 today, now sees

the 1.618 projection target at $1.1615 as the next support and protection

against a fall into the low $1.15's next. As a result, resistance also lower,

$1.1670-$1.1700 initially, then from the recent $1.1725-$1.1730 lows.