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Dollar Headed Lower

July 6, 2010
It is possible the U.S. Dollar Index futures have put in a double top, according to Bill Fordham of C&S Grain Marketing. “If so, further declines may now be expected," he says. "A weekly close below 85.32 is needed to generate new selling momentum to test the 80.14 area, then a weekly close first below 80.14 and then below 79.73 should open the door for lower prices. Trading below the 74¢ level is critical for commodity prices to really come alive again, in my opinion.”
Many analysts believe that the euro is going to collapse and go back to being par with the dollar, Fordham adds. “In my opinion, this is all part of a plan for the eventual establishment of one world currency, which the International Monetary Fund has been working on for about 10 years and which has been in headlines recently.” Learn more at http://www.wocu.com.

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