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EURO-DOLLAR TECHS: Shallow Recovery
EURUSD breached the key 1.13 level for the first time since June 2017, further
accelerating the move to 1.1240. Recovery efforts have so far remained shallow,
suggesting the downtrend remains intact. A break of 1.12 retains the outright
bearish outlook, targeting the 61.8% fibo of $1.0341-1.2555 at 1.1187. Bulls
initially need to recover 1.1350 to halt the downtrend, before focusing on the
21-dma & nov 8 high at 1.1420/45.