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The Dollar has tried many times to break out of its falling channel over the past few months, each time running out of steam and falling to a new lower, low! The 5-day rally in the Dollar has pushed it a fraction above its falling channel at (1).
A 5-day rally is not a trend, it could be nothing more than a short covering rally! What the Dollar at this price point, as it is attempt a channel breakout needs to be watched very closely. The results and impact of this channel breakout or failure is key to portfolio allocations!
