October 5 Dollar Update

Just a quick note on the dollar tonight.  It appears that it broke down through a pennant formation as shown below.

The implication is that the dollar will retest 76 soon--probably this week.  Expect asset prices to rise.  Gold will likely break its resistance at 1020 this week.  Short term traders could trade this move.  Longer term traders should wait and see what happens at the retest.