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Video: Dollar Index outlook ahead the NFP

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Feb 04 2011

US dollar reversed yesterday from 76.86 region, where a five wave decline from the 81.32 highs may have already found the bottom. The most important fact is that prices moved above the upper resistance line of a trading channel, which usually signals for a change in trend. As such, further upside will not be a surprise, and a potential break above 78.32 region will confirm a temporary bullish scenario of the US dollar.

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