I think it is just an oversold bounce. Too many people were short dollars. No one was left to sell. It will probably need a few weeks to work this off and then the downtrend will continue.

I still like gold after the current correction has run it's course and this looks interesting too.

http://market-ticker.denninger.net/archives/1730-TIC-Data-Confirms-Foreign-Appetite-Gone.html

HTD - Horizons BetaPro US 30 Yr Bond Bear Plus