From the 10 year weekly chart of the US Dollar Index down to the 60 minute time frame on UUP (US Dollar Index ETF), it still looks as if a major trend reversal in the dollar is close at hand. However, as with gold & silver, a brief overshoot in order to clear the stops, suck in more shorts (Yen, Euro, etc..) and longs ($USD) lasting a few days to a couple of weeks is certainly a possibility. While a sustained break & continued move above this nearly decade long downtrend line/triangle pattern in the US Dollar index is also possible, there have only been three previous overbought readings (none of which were as extreme as the current 80+ reading) and all three preceded major trend reversals in the dollar. Once again, this can go either way so make sure to have a trading plan in place if trading dollar sensitive securities such as metals, miners or the currencies directly. A trading plan has both your expected profit targets if correct as well as your exit strategies (stops) if wrong.