I mentioned before that my futures contract of choice to trade is the US dollar. Every night I go over my dollar related charts and begin to form a bias for the next trading session be it an afterhours or an intraday trade. I thought I would post a couple charts that are speaking to me this fine Saturday evening.

We are at an important level with the us dollar. If you look at my US dollar chart I mention that we will either break down or our current price is at support and we move higher*. However, before I make a trade I will need to see the price action as it hits this lower trend-line here at $80.00. Does it bounce, or break through?

The EURO/USD chart shows that we had a slight break above a 4 month long downward channel. These are just a few reasons to make me think that we could see a slide in the dollar soon.  I will most-likely be going into Monday with a short-the-dollar bias.

*I suppose we could just remain in a sideways channel also - that's why I remain undertain and need to see what the tape does. Please do your own research. Futures are very dangerous and you can loose a lot of money if you don't know what you are doing.

 <Edit > Check revision tab at the top of this article. In the revisions you will see my bias thrown out the window as I traded it on the long side this evening for a short-term scalp.  I posted these as I made the trade. (Need a time stamp on the revisions page)