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Impulsive Downtrend *RES 4:.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Impulsive Downtrend
*RES 4: 1.1014 High Feb 6
*RES 3: 1.0958 High Feb 10
*RES 2: 1.0926 High Feb 12 and key near-term resistance
*RES 1: 1.0889 High Feb 13
*PRICE: 1.0835 @ 06:43 GMT Feb 14
*SUP 1: 1.0827 Intraday low
*SUP 2: 1.0803 1.618 projection of Jan 16 - Jan 29 decline from Feb 3 high
*SUP 3: 1.0777 1.764 projection of Jan 16 - Jan 29 decline from Feb 3 high
*SUP 4: 1.0747 2.0% lower 10-dma envelope
EURUSD remains in a clear downtrend as a strong impulsive sell-off continues to
dominate. Price once again traded lower yesterday. The former key support at
1.0879, Oct 1 low has this week been cleared, reinforcing bearish conditions
that opens 1.0803 next, a Fibonacci projection. It is worth noting that although
the downtrend remains intact, the trend is steep and the risk of a sharp
reversal increases each day. Initial resistance is at 1.0889.

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