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December 21, 2011

Dollar Holds the Line

The dollar made a bold effort to get back below the pivot formed by the Oct/Nov twin peaks, but some early-morning bids brought the index right back up. The DX chart now sports a rather hefty bullish reversal candle, leaving the door wide open for that last spurt to a new high discussed in recent letters. A move higher by the buck would also likely be accompanied by ...

 

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