6:04 am PST. The price action in the dollar looks interesting and shows some cause for concern for dollar bulls and gold bears. This morning the dollar has continued southward and almost looks as though it could waterfall. I plan to watch the price action in the dollar carefully today. If the USD/JPY breaks below 108 and closes below, that would be bearish.

The Euro etf, FXE, looks as though it bounced off this lower trendline.