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Jim Wyckoff

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U.S. Dollar Index Turns Choppy, But Market Bottom Likely in Place

October 17, 2017 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 December USDX futures that price action has turned choppy just recently, after the index had rallied smartly from the September low. It still appears the dollar index has put in a market bottom, but it will take a move in prices above chart resistance at the October high of 94.100 to provide the bulls with power to suggest the price uptrend can be resumed. Stay tuned!–Jim

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

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