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Still Below Trendline.............>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Still Below Trendline Resistance
*RES 4: 1.1165/79 200-day MA / Oct 21 high and key bull trigger
*RES 3: 1.1140 High Nov 5
*RES 2: 1.1097 High Nov 21 and bull trigger
*RES 1: 1.1055 Trendline resistance drawn off the Nov 4 high
*PRICE: 1.1019 05:27 GMT Dec 2
*SUP 1: 1.0981 Low Nov 29
*SUP 2: 1.0967 Recent double top projection
*SUP 3: 1.0950 76.4% retracement of Oct 1 - Oct 21 rally
*SUP 4: 1.0904 Low Oct 2
After a particularly quiet morning Friday, EUR/USD levitated into the close.
Whether this late rally is an early reversal signal is too early to tell. For
now, the outlook remains bearish following the pullback off resistance at
1.1097, Nov 21 high. The focus is still on a move to 1.0989, Nov 14 low and
1.0967, the double top projection confirmed on Nov 5. Gains above 1.1097 high
are required to negate the bearish threat. Trendline resistance is at 1.1055.

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