US Dollar Rallies. Readies for a Fall
The US Dollar Index (USDX) has been now bouncing back by more than 18% since the bottom posted at mid-July. This low level was identified as the second leg of a “double-bottom” pattern which is a strong basis for a rebound (see on the daily chart). This is what happened and now the Dollar Index has already retraced 23.6% of the long-term bearish trend started in July 2001 and ended then at mid-July 2008. Click To Enlarge This long-term bearish trend (between points A and B on the weekly ch
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