I haven’t posted much on the US dollar as it has been trading at an important level on the six year weekly bar chart. The last time we looked at this chart the price action had just broken below the bottom rail of the five point expanding triangle which is technically a reversal pattern. I showed how a backtest to the underside of the bottom rail at the 90.50 would be critical to the overall big picture. The bottom line is that as long as the US dollar trades below the bottom rail of the expanding triangle the bears are in charge. If the bulls can take the US dollar above the bottom rail they will be in charge. As it stands right now the bears are in control. Note how the bottom rail has reversed its role to what had been support from above to resistance on the backtest.