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Bear Trend to Continue Unless.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bear Trend to Continue Unless We Close Above 1.1390
After briefly trading above the down trendline from the September highs, EURUSD
has come under renewed pressure and looks set to resume its downtrend. The Nov
13 ytd low/61.8% retracement from 0.8230-1.6038 at 1.1216/13 remain in play. A
fall through here would open the May 30 2017 low of 1.1110 as well as the 1.09
level. We need to close above the down trendline at 1.1390 to renew upward
momentum and to change change the focus to a more neutral outlook. Above here
lies the 50% retracement of 1.0341-1.2555 at 1.1448. This would return focus to
the 50- and 100-dmas. 

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