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

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.