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The U.S. Dollar is facing a 7-year falling resistance line (1), drawn off of “Monthly Closing” prices. At the same time the US$ is facing this line, bullish sentiment remains lofty, where prior declines started.
This set up often brings about US$ softness.
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And with the correlation of the dollar to the $SPX we should also be looking at a sell of in equities alongside the USD.?.