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Dollar Index Reaches a New 2015 High in Front of Forthcoming Potentially Directional Catalysts

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    DXY hit a one-tick, 2015 new high at 100.31 yesterday. (11/30), but has turned a touch lower this morning to 99.80/72 so far. What is interesting is that the new high was not confirmed by my daily RSI Momentum Gauge, which actually peaked back on Nov 6 at 99.35. This is a warning that DXY could be nearing, or at, an exhaustion area prior to a significant correction. Of course, this "warning" is occurring right in front of Fed Head Yellen's testimony before Congress this Thursday, the next ECB

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