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Don't Forget About the Dollar

Figure 1 is a weekly chart of the Dollar Index.

Figure 1. Dollar Index/ weekly
Dollar Index - Weekly

The strength of a month ago has given way to weakness over the past two weeks. But the price structure is still bullish, as price has only pulled back to test support levels at 76.65. This would represent a very good low risk entry for those looking to get long the Dollar.

As stated previously, the Dollar remains in a bullish up trend, and such Dollar strength has not been kind to equities over the past 10 years.

 

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