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Joe Friday suggested the Dollar was due a decline on 6/28, because a bearish rising wedge was at hand and 80% Dollar bulls, reflected in the chart below. (see post here)
How do risk asset usually react on a Dollar decline? Last couple of months surprise you?
The left chat above reflects that the Dollar has indeed declined a good deal, since the 6/26 psoting!!!
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Now 2-pack above reflects that the Dollar is on rising support and the Euro is up against falling resistance.
Who should you follow…the moves of the Fed or the price action of currencies for what might happen, in the near future?
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