When money dies (lots of charts)

The US dollar is at tipping point. Here are why:

JPY chart

Yenn chart is flat. But the is because of enourmous disaster Japan suffers.
EUR/USD daily

The bearish wedge was broken from the wrong side and now, the price will go to 1.51

USD/CHF daily

Here we have no wedge, but support was broken and price going down.

GBP chart
GBP chart is same as CHF.

USD/CAD chart

Here price is at the support level

USD Index - 6 mo period

Here situation is as in EUR/USD. , broken from the "wrong" side. WedgeThis is "normal" because UDX is overweight with EURo.

Gold 4h

Here upper channel is broken as in CHF chart (but chart is 4h instead of 1 day!!!).
Brown line could be a new channel top. Previous channel top could be a support.

Silver 4h

Here previous channel was broken, and we have a triangle.
Triabgle may be broken any moment or price may fall to next support levels - different blue lines.

Gold went crazy...

Gold just hit $1,569 mark.
Meanwhile EUR/USD stays flat.
There is relatively big moves in GBP and CHF - about 100 pips.
AUD and CAD moves are about 50 pips.

Gold 2 days

Gold 4h

Silver 4h

Silver dod not confirmed the move in gold, probably it will catch up very soon.
Platinum however confirmed the move.

1 day period mixed chart

Belarus central bank halts sales of gold for Belarus roubles

From the article:

Belarus' central bank has stopped selling gold to local retail customers for Belarussian roubles (BYR), it said on Friday, after demand for precious metals soared due to expectations of a currency devaluation.

The bank did not explain its decision.

http://af.reuters.com/article/metalsNews/idAFLDE73E16O20110415

The article is more important than you think.
I don't know how many Belorussians buying gold, but stopping selling gold could mean that the Belorussian Ruble went into event horizon of the inflation collapse, and hyper-inflation is on the way.

I suppose some day we will get same article for USD and EUR.

Some more - CHF, AUD, WTI

This study is not that precise, nor I will use it for trading.

CHF/USD 12h

...and CHF 12h flipped :-)

because CHF is inverse chart, we flipped it.
looks like CHF made a top and now correction is under way.

AUD/USD 8h

Unlike CHF, AUD is not topped, but now it is in formation like a rectangle. However, inside the rectangle, it made lower lows (pink line).

Other currencies

CAD and GBP going nowhere and charts are not interesting for us.

Oil (WTI) - 1 day

Crude is not dynamic at all. There is formation that first may look like rectangle, but second look shows that most of the highs are higher highs - see yellow dots. Only exceptions are the two green dost. So formation is more like upper channel.

IMF Chief Warns of Currency War

Via Bonddad:
http://bonddad.blogspot.com/2010/10/imf-chief-warns-of-currency-war.html

GBP/USD H&S forming

On 4 h GBP/USD chart a H&S may be forming.

Obamacare passed 219:212

Obamacare ready :D

House sends health care overhaul bill to Obama
House Democrats send historic health bill to President Obama; action shifts to Senate

http://finance.yahoo.com/news/House-sends-health-care-apf-2440271559.html?x=0&sec=topStories&pos=main&asset=&ccode=

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/

Readings

India: the coming superpower
http://wallstreetpit.com/12291-how-could-india-possibly-overtake-china-within-the-next-100-years
Via: http://feedproxy.google.com/~r/Bearwatch/~3/hSfbe32Mltw/india-coming-superpower.html

Silver
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/knRgSIHK8Jw/silver.html
17$

GSR - What's it mean?
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/rljSye1_3NQ/gsr-whats-it-mean.html

Marc Faber Still Sees Some Opportunities in Stocks: Video
http://www.youtube.com/watch?v=WQRU2raejxQ&feature=player_embedded
Video

John Paulson to invest $250 million in his new gold fund
http://feedproxy.google.com/~r/RealityLenses/~3/4MHmQabpY_M/john-paulson-to-invest-250-million-in.html

Forex Fridays
http://bonddad.blogspot.com/2009/11/forex-fridays_13.html
USD

Geithener Sends 403 Tons of US Gold to China
http://greatdepression2006.blogspot.com/2009/11/geithener-sends-403-tons-of-us-gold-to.html
Interesting view of the IMF gold sale.

Currencies versus Gold
http://feedproxy.google.com/~r/trendandvalue/~3/tH3tIFqwH-s/currencies-versus-gold.html

Readings

Paul Tudor Jones Says Now Is Time, Place for Gold as an Asset
http://www.bloomberg.com/apps/news?pid=20601014&sid=anNG9T__.c_M

Commercial lending giant CIT files bankruptcy
http://www.msnbc.msn.com/id/33576310/ns/business-us_busines

Nine More Banks Fail with CIT a Packaged Bankruptcy While Gold Shines in a Jobless Recovery
http://feedproxy.google.com/~r/JessesCafeAmericain/~3/1_WrjZ8pkyI/nine-more-banks-fail-with-major-cit-on.html

CIT to Carpet Bomb Middle American Business
http://jsmineset.com/2009/10/31/cit-to-carpet-bomb-middle-american-business/

Peter Schiff Responds to Mike Norman with Don Harrold Part 1
http://www.youtube.com/watch?v=NHWkXt1_oLg&feature=youtube_gdata
Video, part 2 is linked from there too.

Russia considering gold sale
http://www.businessweek.com/ap/financialnews/D9BK5NHO0.htm

Obama creates 640,329 jobs at a cost of $323,739.83 per job
http://globaleconomicanalysis.blogspot.com/2009/10/obama-creates-640329-jobs-at-cost-of.html

Ron Paul on Forbes: Be Prepared For The Worst; On Larry King Discussing Michael Moore
http://globaleconomicanalysis.blogspot.com/2009/11/ron-paul-on-forbes-be-prepared-for.html

Two stock market comparisons to the 1930s
http://arabianmoney.net/2009/11/02/two-stock-market-comparisons-to-the-1930s/

Australian Dollar -- AUD/USD weekly chart
http://feedproxy.google.com/~r/trendandvalue/~3/IA1gRsNmZ_g/australian-dollar-audusd-weekly-chart.html
AUD/USD

Monthly Charts From Trader Dan
http://jsmineset.com/2009/10/31/monthly-charts-from-trader-dan/
PDF

FDIC Bank Failure Update
http://feedproxy.google.com/~r/CalculatedRisk/~3/VrVg3JxKoTY/fdic-bank-failure-update_31.html

Cartoon: Recession is Over!
http://feedproxy.google.com/~r/CalculatedRisk/~3/jAbQW5ge0uo/cartoon-recession-is-over.html

Zimbabwe considering gold-backed currency

http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=87809&sn=Detail

EUR/ZAR

EUR/ZAR 1 dayHere price pretty much go in range (canal) between 10.80 and 11.65. At the moment the price is at the range top and we may expect the price to fall to 10.80 again.

EUR/ZAR 4hHere on 4h chart we can see the supports - 11.30, 11.20, ~11.10 (brown line), 10.90, 10.80 (range bottom).

Conclusion, in the short term, the rand will go up against the EURo. In medium term we may expect the price to stay in the range.

Gold 4h, EUR/USD 8h and USD/ZAR 4h

Gold 4hGold correcting and we may already saw the low point - $ 940.54. It is not on the exact bottom (I miss the trade with $1 too). Now trend must be up to $980 area.

Grey line is probable down trend, and *must* be ignored for the moment.

EUR/USD 8hEURo already corrected, and now going up to $1.45. Note unlike the gold chart, this chart is 8h.

USD/ZAR 4hA reader requested me for EUR/ZAR analysis. I did USD/ZAR instead, but will look at EUR/ZAR later as well. Imortant here is that higher values means higher USD, lower values means higher rand.

Similar to other charts, there are USD-rising channel. The brown line probably forms a wedge, but it is already broken. Now we may see fall to ~8 rands, or fall may continue to 7.8 rands.

This means USD will go lower, and the ZAR will go up, at least in short term.
In long term ZAR may go down against the USD and probably against the EUR.

Readings

Switzerland tries to devalue again
http://feedproxy.google.com/~r/RealityLenses/~3/NDhG10Cnfms/switzerland-tries-to-devalue-again.html

The Bernanke PUT is born
http://feedproxy.google.com/~r/RealityLenses/~3/CLVSY-kATwA/bernanke-put-is-born.html
see also:
http://en.wikipedia.org/wiki/Greenspan_put

US Dollar collapse and Gold: UPDATE 1-China should buy gold to hedge dlr fall-researcher
http://sufiy.blogspot.com/2009/06/us-dollar-collapse-and-gold-update-1.html

Hourly Action In Gold From Trader Dan
http://jsmineset.com/2009/06/29/hourly-action-in-gold-from-trader-dan-132/

Readings

A look at the FOREX casino...
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/ZzvC54IjGeo/look-at-forex-casino.html
Interesting EUR chart

A Positive Entry for Once
http://chrispycrunch.blogspot.com/2009/03/positive-entry-for-once.html
U.S. Housing Starts

US Dollar Crash Alert: level 87 is crucial!
http://sufiy.blogspot.com/2009/03/us-dollar-crash-alert-level-87-is.html

Decoupling: China relaxes rules for firms to invest overseas
http://sufiy.blogspot.com/2009/03/decoupling-china-relaxes-rules-for.html

Jim Rogers Says U.S. Bailouts Add to Risk of Depression
http://www.bloomberg.com/avp/avp.htm?N=av&T=Jim%20Rogers%20Says%20U.S.%20Bailouts%20Add%20to%20Risk%20of%20Depression&clipSRC=mms://media2.bloomberg.com/cache/vQzOcJXbzz.A.asf
I believe, I'm reprinting this one.

FUN:

The CEO's Guide to Jetting
http://www.welcomebigwigs.com/
The new Jet Blue advertizement campaign :o)

4 links

Currency Intervention Madness
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/532181349/currency-intervention-madness.html

Exxon Mobil Corp (XOM) CandleVolume Charts
http://feedproxy.google.com/~r/trendandvalue/~3/AQwSkvn4MUk/exxon-mobil-corp-xom-candlevolume.html
Interesting figure

CNN TV clip on Dubai property crash
http://arabianmoney.net/2009/02/05/al-jazeera-tv-clip-on-dubai-property-crash/

Swiss to vote on who can come in
http://www.iht.com/articles/2009/02/03/europe/swiss.4-422061.php
Traditionally neutral, with its banks a storehouse for money from all over Europe and the world, Switzerland has a series of agreements with 25 of the 27 European Union countries permitting freedom of movement. On Sunday, it must decide whether to renew them, and extend them to the EU's two newest members, Romania and Bulgaria.

Zimbabwe abandons its currency

Via honestmoneyreport.com forum,
thanks Dupontgaf

Zimbabweans will be allowed to conduct business in other currencies, alongside the Zimbabwe dollar, in an effort to stem the country's runaway inflation.

The announcement was made by acting Finance Minister Patrick Chinamasa.

BBC southern Africa correspondent Peter Biles says the Zimbabwean dollar has become a laughing stock. A Z$100 trillion note was recently introduced.

Until now only licensed businesses could accept foreign currencies, although it was common practice.

Mr Chinamasa made the announcement as he delivered the budget to parliament.

"In line with the prevailing practices by the general public, government is therefore allowing the use of multiple foreign currencies for business transactions alongside the Zimbabwean dollar," he said.

Ron Paul and Benny

18.NOV.2008, via Don Harrold

Coordinated rate cut...

http://biz.yahoo.com/ap/081106/eu_europe_interest_rates.html
ECB - 0.5% to 3.25%
BOE - 1.5% to 3.00% - wtf !!?@?#?#@?!?#
Swiss - 0.5% to 2.00%

Deflation anyone?

Spreads

Dear Clients,

Please, be informed that as of today, October 24, 2008, due to high market volatility and low liquidity the spreads of the currency pairs will be as follows:

EUR/RON from 50 pips to 400 pips
USD/RON from 40 pips to 400 pips
USD/RUB from 100 pips to 1000 pips
USD/ZAR from 150 pips to 450 pips

We wish you successful trading!

Deltastock Dealing Department