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King Dollar strength over the past 5-years, has helped crush commodities. Is a breakout by King Dollar about to happen and keep putting the Crush on Commodities?

Below looks at the US Dollar pattern over the past 20-Years

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US$ started moving higher in 2011 and commodities then did the opposite, falling hard, enduring a historic decline over the past few years.

Now the US$ is back testing “weekly closing highs” at (1), which have taken place, just below its 61% Fibonacci retracement level, based upon the 2002 highs and 2008 lows.

If this would be a triple top and the US$ would happen to break down, commodities would love it.

If the US$ succeeds in a breakout above triple resistance and its 61% Fibonacci retracement level, commodities continue to get crushed.

What King Dollar does at the 100-102 level, will be very important to commodities and multi-national companies in the states.

 

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