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Retreat Continues, Watching.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Retreat Continues, Watching $1.2340-$1.2301 Support
*RES 4: $1.2556 Feb 16 high
*RES 3: $1.2511 Feb 15 high
*RES 2: $1.2450 Hourly congestion Feb 14-16
*RES 1: $1.2416 Hourly recovery high Feb 19
*PRICE: $1.2356 @0925GMT 
*SUP 1: $1.2340/45 Hourly basing area Feb 13-14
*SUP 2: $1.2301 3 month bull channel base
*SUP 3: $1.2276 Feb 14 low
*SUP 4: $1.2234 1% volatility band
*COMMENTARY* $1.2556 was enough for last week, unable to go on and test the
61.8% Fibo retrace level at $1.2598. As a result, has bowed to some overbought
hourly conditions and begun a pullback and some correction of gains seen since
the $1.2206 low from Feb 9. In this respect, with $1.2380 now lost, the next
area of support becomes $1.2340-$1.2301. The latter the 3 month bull channel
base. Meanwhile, $1.2416-$1.2450 are now nearest resistance.

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