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Bear Trend Reinforced *RES 4:.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bear Trend Reinforced
*RES 4: 1.1281/84/86 High Jul 18/High Jul 15/High Jul 11
*RES 3: 1.1250/60 High Aug 06 / Cloud base
*RES 2: 1.1222/33 100-dma/50-dma
*RES 1: 1.1131 Low Aug 14
*PRICE: 1.1099 @ 14:27 GMT Aug 15
*SUP 1: 1.1078 Low Aug 02 / Lower Boll Band (2%)
*SUP 2: 1.1027 Low Aug 1 and key support
*SUP 3: 1.0963 Down Trendline from Nov 7 2017 low
*SUP 4: 1.0821 Low Apr 24 2017
EURUSD has taken another leg lower and broken through support at 1.1112/05,
61.8% of the Aug 1-Aug 6 rally and the Aug 5 low. This rules out the current
pullback being a potential correction and reinforces the near-term outlook.
Focus is now on the August 1 low which comes in at 1.1027. A break below this
level would bring the down trendline from the Nov 7 2017 low into play as key
support. Bulls need a close above the 100-dma and the 1.1250/60 area.

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