Two more charts

USD Index Daily

USD Index had multi-month bullish wedge. Currently wedge is broken.

EUR/USD 4 h

Interesting with EUR/USD is that unlike gold, it is falling within parallel channel.

Gold charts

Gold 1d

On the daily chart gold bounced from the long term support (blue line)

Gold 4h

On 4 chart a bullish wedge is forming.

Gold

USD

Could be a break or could be a blip.

Dubai debt crisis

This week until now I was very busy with my SMS project and had no chance to look deep into Dubai debt crisis.

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From jsmineset.com:

The debt crisis in Dubai is just the first of many that will occur in the Middle East and Eastern Europe in the coming years. It was a wake up call, but not particularly serious by itself. Many Eastern European countries, the Baltic nations...

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General Dubai info:

Dubai the land of Plenty
http://greatdepression2006.blogspot.com/2009/11/dubai-land-of-plenty.html
General Dubai info + pictures.

Where is all oil money going?
http://globaleconomicanalysis.blogspot.com/2008/02/where-is-all-oil-money-going.html
From Mish, reprinted from February.2008. General info + pictures.

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General Dubai debt crisis info:

Video summary of the Dubai debt crisis
http://arabianmoney.net/2009/12/01/video-summary-of-the-dubai-debt-crisis/
video

Dubai Asks For 6 Month Moratorium On Debt Obligations
http://jsmineset.com/2009/11/26/dubai-asks-for-6-month-moratorium-on-debt-obligations/

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Interesting posts and opinions:

A Quick Note On Dubai
http://bonddad.blogspot.com/2009/12/quick-note-on-dubai.html
1.DEC, it reffering this:
http://www.bloomberg.com/apps/news?pid=20601087&sid=apRkor1L0h5A

More Dubai
http://www.calculatedriskblog.com/2009/11/more-dubai.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CalculatedRisk+%28Calculated+Risk%29&utm_content=Google+Reader
30.NOV

UBS Analysts: Dubai Debt may be more than $80 Billion
http://www.calculatedriskblog.com/2009/11/ubs-analysts-dubai-debt-may-be-more.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CalculatedRisk+%28Calculated+Risk%29&utm_content=Google+Reader
yes, they maight :)

Market Commentary From Monty Guild
http://jsmineset.com/2009/12/03/market-commentary-from-monty-guild-54/
3.DEC - I do not agree for Bulgaria ... yet

The Dubai debt comes due
http://themessthatgreenspanmade.blogspot.com/2009/11/dubai-debt-comes-due.html
27.NOV, but include old video from 2-3 mo ago

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Not so interesting posts and opinions :) :

Jim Sinclair on why Dubai debt crisis is not a gold price top
http://arabianmoney.net/2009/11/28/jim-sinclair-on-why-dubai-debt-crisis-is-not-a-gold-price-top/
...and...
http://jsmineset.com/2009/11/27/the-essence-of-dubais-request-for-debt-payment-delay/
I agree, but Jim's oppinion is strange

Hayden Likens Dubai Crisis to `Black Swan' Event: Video
http://www.youtube.com/watch?v=XLecp8ecTfM&feature=player_embedded
video, via Arabian Money
do not say anything

Marc Faber on lessons from the Dubai debt crisis
http://arabianmoney.net/2009/12/02/marc-faber-on-lessons-from-the-dubai-debt-crisis/
video

Dubai debt crisis harbinger for a global bond crisis?
http://arabianmoney.net/2009/11/28/dubai-debt-crisis-harbinger-for-a-global-bond-crisis/

Readings

Bunning to Bernanke: the A.I.G. bailout alone is reason enough to send you back to Princeton
http://realitylenses.blogspot.com/2009/12/bunning-to-bernanke-aig-bailout-alone.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+RealityLenses+%28Reality+Lenses%29&utm_content=Google+Reader
Interesting video for Uncle Ben :-)

Obama to send more troops in Afghanistan
http://realitylenses.blogspot.com/2009/12/obama-to-send-troup-in-afghanistan.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+RealityLenses+%28Reality+Lenses%29&utm_content=Google+Reader

Monthly action in gold from trader Dan
http://jsmineset.com/2009/12/01/monthly-action-in-gold-from-trader-dan/

Assorted Gold Charts From Trader Dan Norcini
http://jsmineset.com/2009/12/02/assorted-gold-charts-from-trader-dan-norcini/
PDF

Trader Dan Discusses What You Need To Know About The Gold/Bond Ratio
http://jsmineset.com/2009/12/02/trader-dan-discusses-what-you-need-to-know-about-the-goldbond-ratio/

Gold 4h

The chart is from yesterday. The decline to lower boundary has begun.

EUR daily

on EUR/USD daily chart we can clearly see the rising channel.
However there is a resistance at 1.51 level.

Gold in retrospection and 4h chart

Gold 1day

Gold is at the verge of $1,200 level, even today for a while it was traded @ $1,200.
Here is retrospection from last 4-5 mo.
With blue is shown what I call massive triangle, and at point (1) the triangle was broken.
With brown, is shown the parallel rising channel, which at some point in the early November was broken on the upside.
With pink is shown current short term rising channel. Note the spike down at point (2). We may view at it as testing of the "brown" channel.

Gold 4h

Currently gold rising inside a channel shown in blue. The current objective is $1,220.
There are one more possible channel - the brown one. In its case, the target is $1,210 or so.
If the gold fall without hit $1,210, it may form double top. This will be short term and objective will be around $1,100.

Disclosure:
Sold speculative the possition in $1,180-1,190 area, looking to buy @ 1,180 and lower...