Dear CIGAs,

Here are some notes on what to expect with the US dollar from our good friend, Master Kenny Adams.

NEAR TERM:

80.80/81.50: MAJOR. At present, this is holding as maximum upside potential for the near term. If reached, this level is sufficient in strength to return the USDX to a major bear trend.

INTERMEDIATE TERM:

82.15/83.80: MAJOR, with numerous major overlays inside this bracket. Its core holds at 82.20 / 83.20. A close above 81.70 would be expected to continue on to a test of this level.

83.10/84.25: MAJOR, and here occurs another partial overlay, making for three major overlaid brackets between 82.15 and 83.80. A move up to 82.15 or above - although not currently supported internally, would be expected to result in exhaustion and a very rapid collapse.

IN SUM:

We do not expect the USDX to close above 81.50, before exhausting the upside and returning to its longer term bear trend, except for the conditions listed above.