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(U2) Recovers Off Lows, Remains Neutral


TYU2 Blocked


Flirting With 50-Day EMA Support

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EURO-DOLLAR TECHS: 1.1275 Is key Support
*RES 4: 1.1621 High Oct 16, 2018
*RES 3: 1.1570 High Jan 10, 2019
*RES 2: 1.1540 High Jan 11, 2019
*RES 1: 1.1495 High Mar 9 and bull trigger
*PRICE: 1.1343 @ 05:40 GMT Mar 11
*SUP 1: 1.1275 Low Mar 10
*SUP 2: 1.1212 Low Mar 6
*SUP 3: 1.1095 Low Mar 3 and key near-term support
*SUP 4: 1.1092 20-day EMA
EURUSD rallied Monday to 1.1495 but retraced those gains yesterday. Bulls remain
in the driving seat. The pair last week cleared 1.1239, Dec 31 high paving the
way for a stronger recovery as it extends the rally off the 1.0778 low on Feb
20. The focus is on 1.1570, Jan 1 high, 2019. A concern for bulls is yesterday's
candle pattern, a bearish engulfing reversal. We will monitor this. It does
highlight the importance of 1.1275, yesterday's low as a key support.

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