Very choppy price action on the $ pairs. The most recent example to this price action was 1st week of August 2010 when the markets (equities) topped and lost a chunk before rebounding in Sept. This looks like a classic stop run before a larger move lower.
The USDJPY is once again at new 15yr lows, but USDCHF and USDCAD have held on to the slight gains made this week. Such $ divergence warns of a turn.

Interesting chart of the Dow Jones - http://desmond.yfrog.com...xsize=640&ysize=640

I have a sneaky feeling we might see the classic "buy the rumour, sell the news" when the US Fed announces the stimulus plan on Nov 2nd since this has already been priced in by the $ selloff and US equities rally from end of this Aug when the hint was declared.

I'm also looking at CHFJPY. Below 82.50 should see the franc weaken across board & a strong yen. I'm looking to go long AUDCHF. If EURUSD gets back to 1.4050 today i'll short it. These are all short term for now. USDCHF is the only long term i have open for now.

This week will be powder keg full. No trades until the FOMC risk event decision is announced. The rumour mills are placing the stimulus between $500B - $4Trillion on the US fed bank purchase purse.
Since global equities have already priced in this stimulus, if the announcement is disappointing, a large correction will ensue. This will see the $ bets swiftly unwind. If this scenario plays out, I'll be buying the $ esp against the euro and aussie and short S&P and Nasdaq. If the opposite happens and the fed announces a super-size stimulus the $ will get cooked and I'll just add to my gold & silver positions and avoid shorting the equities. May reasons for avoiding to sell the $ is due to the fact the $ selling is at extremes which has small room for solid gains. The same applies to buying the global equities at buying extremes.

So for now I'll wait until Nov 3rd. During the announcement I'll also keep an eye on CNBC's mad money show. Whatever they propose with solid support (bullish or bearish) will mean I'm on the opposite side of their trade idea ;-)