Weekly analysis on the Dollar index.

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Black line- support trend line

This past week volatility rose dramatically in the Dollar index. Price moved as low as 110 but we end the week near the weekly highs and with a long lower tail, suggesting that bulls remain strong and defend the index. With price still above the black upward sloping trend line bulls remain in control of the trend. The weekly candlestick body is promising for bulls as it is a sign of strength. This week's low is now considered a key low and bulls do not want to see a break below it. This would most probably signal a major top.


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