You Missed the Chance to Buy the Dollar, Technicians Say
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Anyone who was waiting until after today’s U.S. employment report to get in cheaply on the dollar rally probably blew that chance.
Trading patterns were showing as recently as three days ago that the five-month rally that has taken the greenback to multiyear highs against many of its counterparts was losing momentum and strategists were saying gains would slow with the absence of any additional catalysts before year-end. Those same measures are now suggesting that the dollar’s ascension into 2015 is looking unchallenged.