Currency traders around the world are sizing up the value of the US Dollar (INDEX: $USD) this week. With news on potential Quantitative Easing II (QE2) coming tomorrow, traders expect further dollar weakness. The US Dollar Index is on the verge of a breakdown from a key 3-year support level.

Today’s chart scan shows the fall of the US Dollar (USD) and Exxon Mobil (XOM). The US Dollar has been in a 4-month decline with quantitative easing taking place. The USD is approaching a major long term support trendline. Exxon mobile (XOM) has been in a downtrend despite crude oil strengthening. It recently touched a key resistance trendline.

Today’s chart scan highlights Baytex Energy Trust (BTE) and Powershares US Dollar Index (UUP). Baytex currently offers a lucrative 6.30% dividend ratio. Additionally, its shows a symmetrical triangle formation on decreasing volume. The Powershares Dollar Index (UUP) is also important to watch given the recent FED action. UUP is quickly approaching key long term support levels.

Helicopter Ben has been steadily hovering over the United States throwing hoards of dollars at the so called credit crisis. We have all heard about the need for added liquidity into our financial system. However, few people realize the repercussions of cheap money