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TRIGGERING RENEWED BULLISH MOMENTUM.....>

EURO-DOLLAR
EURO-DOLLAR: TRIGGERING RENEWED BULLISH MOMENTUM SIGNALS. The EURUSD pullback
yesterday has held the important intra-day support at the 1.2300/1.2291 levels,
keeping the near-term technical bullish picture intact. Renewed gains back above
the 1.2354 level will trigger fresh bullish signals, suggesting renewed gains
above this weeks 1.2396 high and putting the focus on the upper end of the near
two-month old descending channel at 1.2438. Failure to 1.2291 weakens the
near-term picture opening the way for a decline towards the 1.2227 trendline
support. Medium term momentum indicators remain steady in neutral territory, but
short term momentum indicators are starting to trigger bullish signals this
morning.

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