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Bears Keep The Pressure On........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bears Keep The Pressure On
Failure to hold recovery gains above 1.1550 keep the focus firmly on the
downside with bears focus turning to a break of the 1.1500 level. Below here
opens the 76.4% retracement of the Aug low - Sep high at 1.1422, ahead of the
ytd low at 1.1301 and extends the broader bearish outlook. Bulls initially need
to reclaim the 100-dma at 1.1644, before targeting the 1.1800 level. Above here
opens the June 14 high at $1.1851, ahead of the 50% retracement (Feb high - Aug
low) & 200-dma at 1.1928/39.

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