A Breakout of the Triangle? Where is the Dollar going next?

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The dollar index has now broken below a trenline (and triangle) and then a re-test of the trenline. It looks like it has move out of a consolidation phase and it’s potentially ready to move again.

My current bias is bearish but I do need to see a convincing break below previous swing low of 78660 level. If not, this may potentially form a double bottom and head back into a trading range or a resumption of the current upward trend.

Anything can happen on Monday morning, so let’s just sit back and relax after enjoying this 5 min of unnecessary excitement.

 

 

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