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Having earlier dipped under the cloud...>

EURO-DOLLAR
EURO-DOLLAR: Having earlier dipped under the cloud base, up trendline support
off the Nov lows ($1.1340) cushioned with the recovery extending to $1.1360/65
ahead of NY. The recent downtrend remains intact with downside focus on the
50-mma & ytd Jan 3 low at $1.1327/09. Bulls need to recover the 50-dma & 1.1400
level to change the short-term outlook. 

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