It’s very fashionable, I realize, to be madly in love with the US dollar and commit all kinds of atrocities against the yen and euro. But for the moment, I really think the latter two currencies have a chance at a turnaround.
A look at the FXE (euro's ETF) shows that it has completed an island reversal. Going long the FXE with a stop at 102.69 seems like a pretty interesting, low-risk trade.