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5 Jan 2015
SEB: USD Index accelerating higher – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes SEB believes that the accelerating USD Index might confirm the long term bull trend if it breaks above the key 94.78 level.
Key Quotes
“Since the exit of the multiyear base formation (a copy paste one to the late 1980’s/early 1990’s one) the market has been on a positive footing. During October the Plaza accord top line (on a linear scale, dotted line) was broken which further enhanced the buying. We are now rapidly homing in on the same top line on a log scale basis (94.78) which will be the last obstacle before confirming the long term bull trend.”
Key Quotes
“Since the exit of the multiyear base formation (a copy paste one to the late 1980’s/early 1990’s one) the market has been on a positive footing. During October the Plaza accord top line (on a linear scale, dotted line) was broken which further enhanced the buying. We are now rapidly homing in on the same top line on a log scale basis (94.78) which will be the last obstacle before confirming the long term bull trend.”