US Dollar Confirms Intermediate-term Breakdown
by Erik McCurdy, Prometheus Market Insight
In early August, we observed that the US Dollar index was on the verge of a meaningful breakdown. Our technical analysis suggested that a weekly close below the congestion support level in the 93 area would likely be followed by a resumption of the downtrend from early 2017. This week, the index moved sharply lower, confirming the recent intermediate-term breakdown and forecasting substantial additional losses moving forward.
Source: http://econintersect.com/pages/investing/investing.php?post=201709091939
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