Not exactly, it only means that the dollar is getting over sold, you need to wait for a buy signal when it comes out of the over sold zone. All things can get more over sold or bought, Wait an watch.

Plus, that was on the dollar future and I didn't tweak the William's up to a 30 count where I like it, this UUP chart shows that we have a good bit further to fall on the dollar. Watch the lower trendline, that is were is should become a good buy for a short term trade.