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Bullish Dollar Index

Posted by StockBuz on June 24, 2011 at 4:45pm
DXY has formed a bullish ascending triangle, shown on the 4hr here. A break above should take it up towards the 200d or above b/w $77-78 This should translate into added pressure on commodities and the overall [weak] market. I should also point out, however, the lower trendline which would change the picture to a bearish triangle. Both are actual possibilities. Wait for a breakout or breakdown

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Tags: dollar-index, dxy
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