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Bulls Need To Overcome 1.1700 ....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bulls Need To Overcome 1.1700 
The failure to hold onto gains above 1.1700 is a bearish signal but the level
remains under threat as downside momentum has been limited. Bulls need a break
of trendline resistance & the Aug 28 high at 1.1712/33 to bring the key 1.1750
area into view, a level that previously held six times in July. Above here would
provide fresh impetus and trigger a large inverse head-and-shoulders formation.
Bears need a close below the 100-dma & 1.1600 to shift focus back to the
downside, suggesting a resumption of weakness towards the ytd low at 1.1301.

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