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The dollar, yen, and franc move lower, but for how long?
The Dow has continued to accelerate higher as the trading day winds down. The risk appetite has in turn pushed the U.S. Dollar Index lower into what is consistent support at the range lows on the daily chart. The U.S. Dollar Index has really held its own as the Dow enjoys more bullish momentum off the 11,000 bounce. While the 74.00 level on the U.S. Dollar Index has been broken, the bulls are maintaining support of the congestion range. This is stifling commodities a bit since there is not a total breakdown of the U.S. Dollar. It also makes me question just how much longer the Dow Jones Industrial Average can rally. ... (full story)
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- Aug 29, 2011 7:31pm Aug 29, 2011 7:31pm
- toptrader11
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