The 2/28/14 Morning Report

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The dollar tanked this morning.

DXY00 Commodity Futures Price Chart for U S D

In the overnight the dollar formed a swing high and then proceeded to break below the previous daily cycle low. This forms the second consecutive failed daily cycle. The dollar is now headed towards an intermediate cycle low.


And I believe that this will lead to a failed intermediate cycle with the dollar breaking below the previous intermediate low of 78.998



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