Pullback Holds Above..............>

EURO-DOLLAR TECHS: Pullback Holds Above $1.1815-$1.1777 Support

*RES 4: $1.2005 2% volatility band

*RES 3: $1.1961 1.618 swing of $1.1911-$1.1830

*RES 2: $1.1921 Equality rise from $1.1119 to $1.0494-$1.1296

*RES 1: $1.1906/11 Max 5th wave target from $1.1650, Aug 2 hi 

*PRICE: $1.1883 @0858GMT 

*SUP 1: $1.1815/30 Hourly support, Aug 3 low

*SUP 2: $1.1777/85 Jul 27 high, Aug 1 low

*SUP 3: $1.1750 Congestion area Jul 28-31

*SUP 4: $1.1712 Jul 25 high, now support

*COMMENTARY* Entered into the early stages of the next $1.1906-$1.1921 target

zone. This the maximum 5th wave objective in the rally from $1.1650 and the

equality rise move from $1.1119. Thursday saw some correction of some overbought

conditions with support from between $1.1815-$1.1777 remaining untouched. Only

loss of the latter will spoil recent upside momentum and suggest that a deeper

correction is required. Above $1.1921 and look to $1.1961 next.