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US Dollar Index Jan 2016 High Provides Support in January 2017

US Dollar Index Jan 2016 High Provides Support in January 2017

2017-01-26 21:43:00
Jamie Saettele, CMT, Sr. Technical Strategist
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US Dollar Index Jan 2016 High Provides Support in January 2017

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“Weakness below 100.51 (December 2015 high) would suggest a broader reversal. The level is classified as a decision point (make or break level).” I made the case 2 weeks ago in this video that DXY had already reversed but warned of a bounce 2 days ago (in this video). What now? A key reversal formed today, which is something that we’ve seen at lows (although some just lows of a few days) throughout the last year. See today’s video for more.

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