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10 days ago the Power of the Pattern was reflecting that the U.S. Dollar needed a a small decline to help complete the handle, in a bullish Cup & Handle pattern (see post here) The Dollar has been a little soft over the past 10 days and this morning is breaking above the potential handle pattern at (1).
Speaking of Cup & Handle patterns, it is possible the Dollar took a year to form a big one at (2).
If this pattern read is correct (which is NOT proven at this time).. the broad market could be put under extra pressure with the VIX setting at current levels?
