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EUR is continuing to push lower following......>

EURO
EURO: EUR is continuing to push lower following the weaker than expected German
Ifo survey, which deteriorated across all the components. EURUSD is now clearly
below the 100-dma with yesterday's close below the major trendline support also
confirming the renewed bearish momentum. This confirmed bearish break out from
the six week ascending channel puts the focus on the medium term pivotal point
at 1.2155 (early March low) and then the 1.2092 September 2017 peak. Also note
that the 200-dma currently comes in at 1.2002. 

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