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Clinging To 124 Level The.........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Clinging To 124 Level
The partial recovery in risk appetite has helped the cross recover the 124 level
allowing bulls to target yesterday's high at 124.30. A break would bring the
focus back to the 125.30-60 zone which holds the 100-dma, 50% retracement of the
Apr fall & previous series of highs. The broader bearish trend remains intact
though with a close below 124 needed to cement the downside break. Below here
would open a return the focus to the 50% retracement of the 2016 lows to the
2018 highs & March lows at 123.72/66. 

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