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EURO-DOLLAR TECHS: Pullbacks Are Likely A Correction
*RES 4: 1.1250 High Aug 6
*RES 3: 1.1208/09 61.8% of Jun 25 - Oct 1 decline / 200-dma
*RES 2: 1.1191 High Aug 14
*RES 1: 1.1179 High Oct 21
*PRICE: 1.1142 09:06 GMT Oct 22
*SUP 1: 1.1115/09 Low Oct 18 / High Sep 13
*SUP 2: 1.1065 Low Oct 16
*SUP 3: 1.1047 Trendline support drawn off Oct 1 low
*SUP 4: 1.0991 Low Oct 15
EURUSD maintains a bullish outlook following this months impulsive gains. Bulls
have paused for breath however with bullish structures in place, further price
appreciation is likely near-term. Recent developments have seen the 100-DMA
cleared together with a daily close above the average. Attention turns to the
200-dma at 1.1209. Momentum studies are firmly in an uptrend too, reinforcing
the bullish theme. On the downside, initial support is Friday's low of 1.1115.