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Dollar index posting its own outside day; potential for key reversal

By   || June 30, 2009 at 15:21 GMT
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A lower low and and a higher high than the prior day has already been seen. A close in the upper region of the daily range is needed to given the US dollar index a key reversal on the charts today. When they happen at tops and in this case bottoms of a trend,  they are meant to be powerful signals.

Their predictive power has been abysmal of late, however. A key reversal in cable in early May did not end the pounds uptrend, it should be noted.

6-30-usdx

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