Technical watch in effect on the Dollar as one up trendline broke last week and followed by a negative crossover in the macd(12,26,9).

A break of the current up trendline will trigger even more large sell orders, which in turn should set a downward trend in motion that feeds on itself as various technical formations fail one after the other.

As mentioned earlier, first failures have already triggered a sell signal and more are to come. The next technical hurdle is fast approaching & dual in nature; watch out for a collapse in the primary up trendline & converging triangle which began Oct 27. Next failure after that is the descending triangle which will take the USDX back to 81 and possibly 78.

Food for thought. Isn't it interesting how England has made a large interest rate cut just at the right moment when the Dollar is prone to a large retrace?