John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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sixty2nds

To: John Pitera who wrote (18615)	1/20/2017 4:11:02 PM
From: The Ox	1 Recommendation Read Replies (2) of 33421

My short term guess is that we've only seen the beginning of the strengthening of the dollar. From May of last year into the recent top, the US$ index soared over 10%. The recent "weakness", if you want to call it that is just a blip down, IMO. I agree, there is a ton of resistance above in the $1.08-$1.09 levels as seen clearly on your EUR/USD chart. Most of the recent economic data out of the US has been supportive of more rate hikes in the relatively near future.

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