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US DOLLAR INDEX:Although
the overall downtrend has been quite intense, the market could be
showing signs of basing following the latest impressive rebound. Look
for a break back above the 24May high on to officially confirm bullish
reversal prospects and accelerate gains. However, inability to
establish above the 24May high will keep the pressure on the downside
and open a retest of the recent trend lows. A more constructive weekly
chart does help to reaffirm recovery outlook, and we look for a higher
low over 9400. |
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