The Federal Reserve displays utter disregard for the dollar. G-20 anticipates feeding off the current abusive trend so that it can sell the global public on the recovery story. Timmy goes before our Asian 'partners' and delivers a Snow job to feign support of the world's reserve currency with all the ironic hilarity of his predecessor.All the while, the dollar sports bullish divergence but remains below RSI resistance and the resistive SMA 50. So it can't be said that there is anything technical stating that a bottom is at hand. In fact, a weekly chart shows lower potential.
I have taken some positives (for the USD, and for rational markets to take the correction that rational markets need right now - but oh, we are a long way from rational aren't we?) out of the GSR's refusal to give in to a new leg down thus far. If the GSR is able to persist to the upside you will see other things that have been in similar downtrends, like the VIX, like Uncle Buck, follow right along. If not, then we go further off the charts of common sense and further into the moral hazard that will become all too real upon termination of the rally in hope and greed.
