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February 16, 2014

Time for a Dollar Dive

At last, we have a failed dollar cycle in which we can have some confidence. The drop below DX 80.15 by the Dollar Index produces a failed daily cycle on Day 15, signaling an intermediate cycle in decline and confirming the trend line break on the weekly chart. We will now look for an accelerated decline as the dollar heads into a 3-year cycle low. Based on the dollar's weekly chart, this decline is likely to require at least one more failed daily cycle: ...

 

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