I will still watch the dollar but it is clear that it is headed for its 2008 lows and possible even lower. 75 looks like a better support area. The pink line was the LOD from this morning.
One product I use is Market Club and their trend triangles have been spot on for the dollar. I will get bullish on the dollar when Market Club gives a signal.
Here is a video from Market Club showing how effective their triangles were for the last two years,The video focuses more on the longer weekly and monthly trends. It is worth a look to see how correct their calls have been.
If if you don't watch the video the best things Adam Hewison says in the video is "If you can catch 70/75% of the move, your fine".
This is defintely goes along a rule I've been trying to follow stricter and it comes from Reminsences of a Stock Operator:
"One of the most helpful things that anybody can learn is to give up trying to catch the last eighth—or the first. These two are the most expensive eighths in the world. They have cost stock traders, in the aggregate, enough millions of dollars to build a concrete highway across the continent"
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