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Trading Just Ahead Of Trendline...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Trading Just Ahead Of Trendline Support
*RES 4: 1.1239 High Dec 31 and bull trigger
*RES 3: 1.1206 High Jan 6
*RES 2: 1.1173 High Jan 16 and key near-term resistance
*RES 1: 1.1143 High Jan 17
*PRICE: 1.1084 @ 06:29 GMT Jan 23
*SUP 1: 1.1074/66 Trendline support drawn off the Oct 1 low / Low Dec 20
*SUP 2: 1.1040 Low Dec 6
*SUP 3: 1.1003 Low Dec 2
*SUP 4: 1.0981 Low Nov 29 and key key support
EURUSD continues to trade at this month's lows. The near-term outlook remains
bearish following last Thursday's failure to hold above 1.1168, Jan 8 high.
Attention is on support at 1.1066, Dec 20 low and 1.1074. The latter marks
trendline support drawn off the Oct 1 low. A break of the trendline and 1.1066
would further strengthen a bearish case exposing 1.1040, Dec 6 low. For bulls,
the trendline needs to hold. 1.1143 is first resistance ahead of 1.1173.

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