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This will be a temporary low ,
a counter trend rally in a long term bear campaign but could be a multi month rally is now in place. The key resistance
to indicate the exhaustion down is complete is the previous exhaustion low. If price can go above that level at 75 it will
have further bullish implications as it will indicate Apr22 had completed the blow off trend down .
If it starts to trend down without getting above that level there will be another down trend to a new low just like
the previous two exhaustions, coming at a level of 69, 67 or even 66 to 65.
Just the chance of the dollar finding a low has had a cooling effect upon commodity and metal prices .
if this exhaustion move down is complete the effect could be quite dramatic. The next few days in the dollar as shown
in the arrow will tell the story and confirm the low or confirm another exhaustion move down. But right now there is a low
of some magnitude in place. Yes that means the EURO may have topped against the dollar. Next few days days will also tell
the story in the EURO.
We can have very profitable trades either up or down the coming days....
Are you ready?
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