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Close Below 1.1448 To Continue....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Close Below 1.1448 To Continue Downtrend
After failing once again to close below the 1.1448 50% retracement from 2017
lows, we have traded through Oct 9 lows on the back of weak German PMI data. For
downward momentum to be continued we need to close below 1.1448 which would open
up a move to the August lows at 1.1301. Conversely, bulls need to initially
recover 1.1550 before 1.1600 is challenged to change the short-term downtrend.
The next level higher is the 100-dma & 1.618% swing target at 1.1621/32.

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