Dollar Outlook Still Negative

05/26/2009 11:39 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

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The dollar index dropped sharply last week, consistent with the top formation we discussed on March 13th as the bearish signals from the RSI have been confirmed. The 50% has been reached with the 61.8% support now at 78. The weak dollar is having an impact on all of the major markets. Resistance is in the 83-84 area.

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