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The Yen, Australian $ and the Euro have created pennant patterns over the past few years and each of these currencies is now breaking support of the pennant patterns.
As the same time the US$ has been unable to close on a monthly basis above line (1) in the chart below.
Joe Friday: "A close above line (1) would be bullish for the US$ and should cause further breakdowns around the world from these pennant patterns."
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