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Warning: A U.S. dollar breakdown could soon be confirmed
“King Dollar” has been on a roll since last summer… up over 20% in less than a year. The rally has been rare and historic.
The majority of the rally took place inside the steep rising channel above. Over the past month, the dollar may have put in a double top. Over the past few days, it has slipped a little below rising support at the red arrow above.
On 3/31, I shared the chart below with members. This chart highlights times when the U.S. dollar is up over 12% from the prior year and created a 2% or more reversal pattern, on a monthly basis.
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