Set To Probe Downside Again.......>

EURO-DOLLAR TECHS: Set To Probe Downside Again After $1.1690 Cap

*RES 4: $1.1790 Initial low Oct 20, now resistance

*RES 3: $1.1753 Oct 25 low, now resistance

*RES 2: $1.1725/30 Oct 23, Oct 18 lows, now resistance

*RES 1: $1.1690 Nov 3 high

*PRICE: $1.1592 @0923GMT 

*SUP 1: $1.1574 Oct 27 low

*SUP 2: $1.1545 1% volatility band

*SUP 3: $1.1502/06 swing of $1.1574-$1.1690 & $1.1649-$1.1880

*SUP 4: $1.1494 9 week bull channel base projection

*COMMENTARY* Unable to move any higher than $1.1688-$1.1690 last week. While

below the slightly higher $1.1725-30 area, this still suggests that the recovery

from last week's $1.1574 low is just a 4th wave correction. A loss of

$1.1595-$1.1600 would put $1.1574-$1.1545 back under pressure. The latter has to

hold, or the downside will seek out a couple of swing targets around

$1.1506-$1.1502 next.