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2020 Downtrend Extends *RES 4:....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: 2020 Downtrend Extends
*RES 4: 1.1118 High Jan 21
*RES 3: 1.1085/96 T-line resistance drawn off Dec 31 high / High Jan 3
*RES 2: 1.1048 High Feb 5
*RES 1: 1.1014 High Feb 6
*PRICE: 1.0959 @ 16:13 GMT Feb 7
*SUP 1: 1.0941/18 Low Oct 8 / 1.0% Lower 10-dma Envelope
*SUP 2: 1.0904 Low Oct 2
*SUP 3: 1.0879 Low Oct 1 and a key support
*SUP 4: 1.0839 Low May 11, 2017
EURUSD hits fresh lows again this morning and fresh lows for the year. The break
lower confirms a resumption of this year's sell-off that started on Dec 31 and
reinforces the negative short-term signals. The move lower opens 1.0941, the Oct
8 low next ahead of 1.0904, Oct 2 low. Price needs to trade above
yesterday's1.1014 to signal a potential near-term base. For now though, the pair
remains heavy.

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