This was nicely worded to disclose that the U.S. dollar is poised for a major fall.

The euro may be nearing an ``explosive breakout,'' reaching record levels against the U.S. dollar, according to a Citigroup Global Markets Inc. research note.

The trading pattern, including a so-called double-bottom that tested lows, resembles the one before Feb. 26 that preceded the surge to $1.6019 per euro, analysts Tom Fitpatrick in New York and Shyam Devani in London wrote in the note today.

`` We cannot help but feel that things might be about to get very bad again,'' the analysts said, referring to the possible combination of falling bond yields and rising oil prices