Let’s look at past history on US Dollar Index. In 2007, US Dollar Index significantly declined and formed a trend line as shown in the chart. When it broke the trend line, US Dollar Index took off in 2008 creating a double top.
Then it started falling again in late 2008 into 2009. Recently, another trend line formed, very similar to the trend line in 2007. And just like in early 2008, we have crossed this major trend line again recently. We know history tends to repeat itself and I will not be surprised at all if it starts shooting upward from here… Expect at least 15-20% gain!
Then it started falling again in late 2008 into 2009. Recently, another trend line formed, very similar to the trend line in 2007. And just like in early 2008, we have crossed this major trend line again recently. We know history tends to repeat itself and I will not be surprised at all if it starts shooting upward from here… Expect at least 15-20% gain!
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