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Some thoughts on yesterday's......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Some thoughts on yesterday's EURUSD move:
The move lower, while bearish could catch the market by surprise. There are
still several strong technical readings that suggest the risk remains skewed to
the upside.
- This week has seen a retracement back to the 50-day exp. MA which essentially
halted yesterday's slide.
- The slope of this MA and short-term MA's are positive. This suggests that
pullbacks are corrective.
- The intraday trend reading, despite yesterday's sell-off remains up.
The market needs to see a resumption of weakness below yesterday's low of 1.1064
to maintain the bearish reading of a double top that suggests the pair can
extend losses down to 1.0967. However, don't be surprised if EURUSD grinds
higher from current levels.
https://emedia.marketnews.com/mni_EURUSD_061119.pdf

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