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Thursday, November 17, 2011

DOLLAR charts

We take a look at crucial dollar charts . The inverse relation of equities to the DOLLAR is almost 100%. The dollar has hit another POTENTIAL parallel channel resistance line . I expect it to move down from these levels . Also divergence in indicators seen.

The  level has been hitting for 3 times now.

You can see that the SnP just managed to break inside that TRIANGLE . That because of the last bearish candle in the previous chart .

I expect a down move in the dollar now. And that should take stocks higher from these levels

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