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Failure To Break Out Keeps........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Failure To Break Out Keeps Outlook Neutral 
Failure to break back above trendline resistance from the July high at 1.1712
and the close back below the 100-dma (1.1667) keeps the outlook neutral for now.
Bulls need to overcome these levels to target bring the key 1.1750 area into
view, a level that previously held six times in July. A break here would provide
fresh impetus and trigger a large inverse head-and-shoulders formation. Bears
need a close below 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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