Dollar Will Consolidate Around 78 For Next Few Months

Yesterday the dollar bumped it's head against the downtrend line (A) shown below. I was expecting the dollar to continue upwards to ~80 but dollar futures sank overnight as Europe and Asia rallied. I realized that the retrace from 75.76 to ~79.5 is a 50% retracement of the move down from ~83.6. I now expect the dollar to trade sideways in the 78-79 range for the next month or two. I will look to sell the dollar if it nears 80.