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Remains Vulnerable Despite........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Remains Vulnerable Despite Bounce
*RES 4: 1.1018 High May 1 and key resistance
*RES 3: 1.0986 High May 4
*RES 2: 1.0918/ 26 50-day EMA / High May 5
*RES 1: 1.0874/76 20-day EMA/ High May 8
*PRICE: 1.0855 @ 16:21 BST May 8
*SUP 1: 1.0767 Low May 7
*SUP 2: 1.0727 Low Apr 24 and bear trigger
*SUP 3: 1.0723 Low Mar 24
*SUP 4: 1.0636 Low Mar 23 and key support
EURUSD managed to find support off recent lows. Despite the recovery, the
near-term outlook remains bearish following this week's sharp sell-off. Monday's
price pattern was a bearish engulfing Japanese candle pattern and clearly
highlighted the market's sentiment shift to bearish this week. The break of
1.0799, Apr 27 low has exposed 1.0727, Apr 24 low key support. A break would
open 1.0636, Mar 23 low. Firm resistance is at 1.0926.

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