The dollar’s retracement from a 94.74 high recorded two weeks ago seemed healthy and normal until Friday’s dive. Just a little more weakness on Monday or Tuesday would generate a bearish impulse on the daily chart if it penetrates the 92.70 low shown in the chart.  Although this would not necessarily signal the start of a major new downtrend, it would imply that it could take time — perhaps 6-10 weeks or even longer — for the dollar to carve out a bottom capable of supporting the moon shot that eventually is coming. I see this as inevitable because a strong dollar is the one thing that almost no one wants. It would deaden stimulus, kill the profits of U.S. multinationals and catalyze the start of a ruinously deflationary squeeze on debtors. _______ UPDATE (Oct 13, 2:08 p.m.): Because the dollar has been falling for nearly three weeks, and because it has reversed from a too-obvious spot just above mid-September’s consolidation lows, we’ll be careful about turning bullish prematurely. Let’s stipulate that the rally continue unpaused to at least 94.04 before we switch our bias. That would put p2=94.50 in play (60-minute, A=92.75 on 9/21), with additional potential to D=95.00 over the next 4-6 days. Here’s the chart.