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Greenback weak…but…

November 20, 2020 by Jim Wyckoff

The U.S. dollar index is a basket of six major world currencies weighted against the greenback. See on the daily bar chart for the USDX futures that prices are trading sideways at lower levels and the bears have the solid overall technical advantage. There are some big investment banks forecasting further depreciation of the U.S. dollar in the coming months. That may or may not be the actual case. Do remember this: If the marketplace gets really spooked, the U.S. dollar will again be sought out as a safe-haven store of value. Stay tuned!– Jim

Filed Under: Blog News, Jim's Morning Report, Uncategorized

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There is a risk of financial loss in futures and options trading. Futures trading is neither easy nor an easy way to make money. It takes hard work to have success. Please use sound money management when trading futures. Past performance is not necessarily indicative of future results. Nothing on this website is intended to be a trading recommendation to buy or sell futures or options. All information has been obtained from sources believed to be reliable, but accuracy is not guaranteed. Readers are solely responsible for how they use the information on this website.

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