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| USDx as of Mch 12 '12 with FIBONACCI Lower Fan |
The not too surprising move of the USD at the end of the trading week of 3.16 was triggered by the inflationary effects of the Consumer Price Index, plus a more negative sentiment vs. the figure from the University of Michigan Confidence report. A justification quite simple enough to draw the USDx lower from its 1st initial objective of 80.50/73 resistance level as mentioned in our supporting video below dated the 12th of March 2012 and market view report on the 13th. The preliminary outlook then for the near term was 'neutral to bearish'. Remember, there is no real straight ups or down as price fluctuations are susceptible to changes due to major news reports. However, this move back to the low of 79.67 was indeed a major correction from its daily /weekly highs as the pullback came in right after the final outcome of the confidence report. Pls. continue ...http://megatrade101.com/
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