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Losing Streak Continues *RES 4:...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Losing Streak Continues
*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: 1.0798 @ 05:12 GMT Feb 20
*SUP 1: 1.0764 1.0% 10-dma envelope
*SUP 2: 1.0777 1.764 projection of Jan 16 - Jan 29 decline from Feb 3 high
*SUP 3: 1.0653 3.0% Lower Bollinger Band
*SUP 4: 1.0638 2.0% lower 10-dma envelope
The 1.0% 10-dma envelope remains key support going forward after the price
arrested the Tuesday decline. Evidence still suggests that the strong impulsive
sell-off is dominating, opening projection support down at 1.0777. We continue
to stress 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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