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Rally Enters Into Next............>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Rally Enters Into Next $1.1906-$1.1921 Target Zone
*RES 4: $1.2047 July 2012 low, now resistance
*RES 3: $1.1981 2% volatility band
*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: $1.1843 @0800GMT 
*SUP 1: $1.1815 Hourly support
*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* Has 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. Currently correcting some overbought 
conditions with support likely between $1.1815-$1.1777. Only loss of the latter
will spoil recent upside momentum and suggest that a deeper correction is
required. Above $1.1921 and the upper 2% volatility band is at $1.1981.

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