Could this key trendline finally break?

Dollar Index – a confluence of fib resistance on DXC is seen
at 84.86-92 – this should keep a lid on any counter-trend move higher after this
mornings move lower. We still see 84.42 as the key level – a break of this
should intensify dollar selling as it will represent a break of the .786
retracement of the 5/15 low & 7/19 high.

USD/CAD – seems poised to continue lower – the re-test &
failure of the broken trend-line at 1.1175 a few minutes ago is a good sign.

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Dave

Dave Floyd is a professional FX and stock trader based in Bend, OR and the
President of Aspen Trading Group. Dave’s approach to FX combines technical
and fundamental analysis that results in trades that fall into the swing
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