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After a significant five wave reversal on dollar index from 76.85 region, we decided to look on the weekly chart, which is showing a very bullish set-up for the weeks ahead. You will notice a trend line connected from early 2008 which holds dollar index up for almost 3 years now. In fact, each time the prices moved close to a trend line, a weekly spike occurred, which then sent the US dollar much higher. May reversal scenario repeat!?

Guest post by Gregor Horvat

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