Bounced Off YTD Lows But..........>

EURO-DOLLAR TECHS: Bounced Off YTD Lows But Downside Still in Focus

After hitting its lowest levels since Nov13 2018 earlier Thursday, EURUSD has

retraced around half of Wednesday's down move at the time of writing. The lows

were reached earlier in the London morning following weakness induced by a

disappointing Q4 German GDP print. In spite of the retracement, the focus

remains firmly on the Nov low at 1.1216. A break triggers a potential bear flag,

strengthening the downtrend toward 1.1187 which represents the 61.8% retracement

of 1.0341-1.2555. Bulls need to clear the 100-dma at 1.1406 to improve the

short-term outlook. A break of 1.15 would open down trendline resistance & the

Jan 31 high at 1.1501/14.