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Last week the “Power of the Pattern” reflected that Dollar bulls were jumping ship (See post here) The Dollar has been moving higher of late, after breaking its steep falling resistance line. Tests of a support line often take place and it looks like the Dollar is testing the top of the cup & handle pattern today at (1).
The Dollar has created this morning a large bearish wick. What the Dollar does in the next 48 hours will be huge for the broad market/risk assets, especially if support line (2) holds!