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The US Dollar Index is once again at a key technical level.
The 82.97-83.00 area marks an area that makes the first leg of the up move a common fib proportion to the second leg.
So far the 4H chart shows the price is contained by this area, but has not show any kind of major pull back as of yet.
This key area can potentially mark an area where the long awaited pull back in the USD can occur, and potentially last through out the month.
In other correlations, Gold has broken through it's daily trendline, and is starting to look bearish, bringing back the bullish USD viewpoint. If it cannot overcome the 1270 barrier shortly, it may be looking for new yearly lows.
The 82.97-83.00 area marks an area that makes the first leg of the up move a common fib proportion to the second leg.
So far the 4H chart shows the price is contained by this area, but has not show any kind of major pull back as of yet.
This key area can potentially mark an area where the long awaited pull back in the USD can occur, and potentially last through out the month.
In other correlations, Gold has broken through it's daily trendline, and is starting to look bearish, bringing back the bullish USD viewpoint. If it cannot overcome the 1270 barrier shortly, it may be looking for new yearly lows.
