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Started the day off today reflecting that the Euro was facing stiff resistance. Last week I shared that the Dollar looked like it had shrank enough in the chart below…..
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The breakout above resistance in the top chart and the breakdown in the Euro is not good for the risk trade!!!
What a roller-coaster ride for the dollar over the past week!
the dollar always breaks the long trendline runs up then drops back fast and then blasts off.