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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Perspective who wrote (82774)	6/15/2007 5:18:01 PM
From: skinowski	Read Replies (1) \| Respond to of 110194

nice contracting triangle formed in the USD the last couple years Yes, absolutely. Or, in classical terms, the chart action can be described as a "Declining Wedge with Bullish Implications". The momentum divergences support this view as well. And - also agree - while the 2005 USD rally was impulsive, the consequent decline can easily be seen as a corrective structure. The sentiment? No kidding... We all heard a thousand times that America is a declining power - broke, immoral, and what not... that the USD is finished, it's trash, etc, etc. It may be a good idea to point out that I am discussing here NOT any fundamental realities of America and the Dollar, but merely the sentiment which is reflected by such views. And that sentiment is deeply bearish. Worldwide.