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USD Index To Extend Downtrend To 74.724
The U.S. dollar faces more general weakness, with the USD Index destined to extend its medium-term downtrend to 77.049 and then the 74.724 area. Thursday's bull trap and near-term bull failure peak at 79.346 puts dollar bears back in control, and fresh lows for the week have already been made during Friday's current session. The broader bear wave from the major reaction high at 81.784 in mid-January is poised to put pressure on the Feb. 29 reaction low at 78.095. This 78.095 low formed the base of a bullish outside week reversal at the time, but having restricted the subsequent rally to 80.738 on March 15, a full ... (full story)
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- Mar 30, 2012 7:32am Mar 30, 2012 7:32am
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Fudomyo
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venzen
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