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Rally Faded EURUSD charted a......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Rally Faded
EURUSD charted a dragonfly doji on Friday and yesterday's close above 1.1296
provided confirmation. This could signal a key bullish reversal, however EURUSD
has so far failed to gain traction and holds in narrow range trade. Bulls look
to take out yesterday's high at 1.1334. A break opens the 100-dma at 1.1401,
ahead of a potential return to down trendline resistance at 1.1478. Bears need a
reversal back under 1.13 to allow a run at the Feb 15 low of 1.1234. A break
would trigger a potential bear flag, strengthening the downtrend toward 1.1187
which represents the 61.8% retracement of 1.0341-1.2555.

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