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    USDX technical analysis for February 5, 2016 2016-02-05

    The US dollar index has reached a new lower low, as we expected, hitting important weekly support levels. Bears should be very cautious today as there is a possibility of a reversal as we expect the NFP announcement today.

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    As can be seen in the weekly chart above, the price has reached the weekly kijun-sen (yellow line indicator) and the Ichimoku cloud. This is important support, so I would prefer bears to take some profits. The longer-term trend remains sideways.


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