FXstreet.com (Buenos Aires) - Current market conditions show greenback sell off could be well identify as one of the last stage of a bearish market, and signal a potential reversal: a panic rally as clearly explained by Charles Down in his basic theory of technical analysis.

The dollar sell-off that extended this Tuesday in New York trading supported by rising U.S. equities helped yield-seeking investors slough off caution ahead of tomorrow' s key policy meetings; BOE will be releasing it's minutes while the FOMC will be ending their two-day meeting; later in the week, G20 meeting will be held also with chances of affecting dollar trend.

From a technical perspective and due to the oversold state greenback has against most rivals, seems too late to join the bearish momentum, yet also a bit too early to call for a bottom. Further confirmations must be seen before confirming such bottom, yet should not be far away.

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