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Crunch points could be near for euro / dollar, dollar / yen
One very interesting question in the minds of many market participants is what will happen to the US dollar and whether its rally since May / June of 2014 has now finally come to an end. Technically speaking, the prospects of its major rivals such as the yen and the euro, are looking much better for the moment. The dollar is looking bearish in both euro / dollar and dollar / yen as the 200-day moving average and the Ichimoku cloud show – at least on the daily charts. The moves against the dollar may look a bit excessive according to the Relative Strength Index, but short-term technical traders would nevertheless ... (full story)