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Bull run not over yet Despite.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bull run not over yet
Despite initially failing to hold the move above 1.17 (resulting in a pullback
print of 1.1652 Wednesday), EUR/USD bulls fought back in the latter half of the
session to keep focus on the 100-dma at 1.1755. A close and hold above this mark
would be the first since December last year, which was followed by a rally of as
much as 6%. Bears need to see a close back below 1.16 to take the pressure off
and allow them to focus on the 1.15 area. The July 31 high provides initial
resistance at 1.1746, a break here and the inverse head-and-shoulder formation
renews the bullish trend pointing to a potential move to 1.19.

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