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

Dollar mess charts...

What a mess...
Gold @ $1,506; Silver @ $45.38

---

USD daily chart

may be doing a wedge, but who knows...

---

Gold/Silver ratio daily chart

Unstoppable...

---

Silver 1h

It must correct, but it want not...

---

Silver 4h

Old channel acted as support.
Hopefully we will have one more test where we will be able to buy some for small speculation.

Silver, Gold, HUI, EUR and USD

Silver is very volatile today.
But do you know what is strange?
Gold/Silver UP,
Mining stocks DOWN,
EUR DOWN,
USD UP.

Some charts

USD daily

Gold daily

Sikver weekly

Silver daily

EURo

There are interesting development in the EURo. 4h chart is bearish, but 1 day chart is bullish.
At the beginning we will see fall to brown line (on the daily chart), then we may or may not see rise of the EUR/USD.

Charts

1h EUR Chart

Lots of trend lines, pink lines are interesting, but we need to wait and see.

Charts

EUR/USD 4h

EUR looks like topped already and if brown/pink support fail will go to the formal resistance @ ~1.39.90 (blue).

---

Silver 12h

Interesting chart in silver. We have perfect channel on 12h chart. Price will top here and will go to support @ 24 area. 

---

Gold 12h

...and...

Gold 4h

Gold is currently at the support in 1,384/6 area. We could see top here (and because of silver chart I think we will see the top). Then support will be @ 1,365 area (brown) and 1,338 area (blue).

EUR and Gold charts

Those charts are from ~4-5h ago:

---

EUR/USD 1h

Here we can see that the triangle is broken, and new channel (in pink) is formed.

---

Gold 12h

Triangle is not broken here, but meanwhile prices hits 1,380, so triangle is very well broken. Now the channel in blue is in tact. Actully, the blue channel was broken too, but just a little bit. We need to wait and see. will post updates very soon. 

---

Gold 4h

Same as 12h chart, but more clear

Bernanke is Mugabe (readings)

Gold Daily Chart
http://jessescrossroadscafe.blogspot.com/2010/11/gold-daily-chart_03.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29&utm_content=Google+Reader

What the Fed did and why: supporting the recovery and sustaining price stability
By Ben S. Bernanke
Thursday, November 4, 2010
http://www.washingtonpost.com/wp-dyn/content/article/2010/11/03/AR2010110307372.html

The Real QE Numbers
By: Jim Sinclair
http://jsmineset.com/2010/11/03/the-real-qe-numbers-2/
The real number is not $600 billion in QE but $900 billion when you add present in place programs.

Jim Sinclair - Gold Bottomed, Dollar Index Headed to 56
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/11/3_Jim_Sinclair_-_Gold_Bottomed%2C_Dollar_Index_Headed_to_56.html
(text)

Comments on FOMC statement
by CalculatedRisk
http://feedproxy.google.com/~r/CalculatedRisk/~3/0w82raRjKYM/comments-on-fomc-statement.html

Silver ticks above $25 on QEII but should sell off to $20
by Peter Cooper
http://www.arabianmoney.net/gold-silver/2010/11/04/silver-ticks-above-25-on-qeii-but-should-sell-off-to-20/

Axel Merk on Tech Ticker
Bernanke Christens QE2: Fed "On a Very Dangerous Path," Axel Merk Says
Part 1:
http://finance.yahoo.com/tech-ticker/qe2-is-here-what-now-535568.html
Part 2:
http://finance.yahoo.com/tech-ticker/bernanke-christens-qe2-fed-on-a-very-dangerous-path-axel-merk-says-yftt_535567.html
video from yesterday

We’re Saved – The Banks Find Buyer for Garbage MBS Paper!
http://www.financialsense.com/node/2922?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+fso+%28Financial+Sense%29&utm_content=Google+Reader&utm_term=FSO

Interesting:

Lithium Drive: Chevrolet Volt 2011 GM
http://sufiy.blogspot.com/2010/11/lithium-drive-shenzhens-new-electric.html
video

Axel Merk on Tech Ticker

Bernanke Christens QE2: Fed "On a Very Dangerous Path," Axel Merk Says

• http://finance.yahoo.com/tech-ticker/qe2-is-here-what-now-535568.html?tickers=tlt,tbt,^tnx,tip,^dji,^gspc,spy
• http://finance.yahoo.com/tech-ticker/bernanke-christens-qe2-fed-on-a-very-dangerous-path-axel-merk-says-yftt_535567.html

EUR/USD 4h

Very important development in EUR/USD. The resistance was broken as if it was not there. This means that the channel in brown is not that important as we thought. Expectations could be now - price to fall to bottom of the pink channel, and go once again up.

One reminder here - FED / FOMS meeting is tomorrow and we may expect lots of volatility.

Charts

Gold 12h

There is no new developments here

EUR/USD 4h

EUR unable to fall to 1.3820/30 area. Looks like the small blue channel is acting at the moment.

Charts

Gold 12h

Gold bounced from the "double" resistance lines. Hopefully it will decline some more, to the support where we would buy it again.

Silver

No chart for silver, but silver hit new high (from 24.89 to 25.03)

EUR/USD 8h

EUR/USD bounced from resistance. We will see if this is a triangle or not.

Gold, Silver, EURo

Gold 1 week

Situation here is unchanged, but chart worth to be watch.

Gold 12h

Price raised to the upper boundary of the channel in brown. Now probably price will fell once again to ~1330 or so.

Gold 4h

Same, but I added possible downtrend channel - in pink.

Silver 8h

Looks like in silver, situation is more dynamic. We can see same channel as in gold, but channel is broken at the top.

EUR/USD 4h

EUR lagging, it is not at the top of the channel, even more - the downtrend is very well seen (brown). We also could see the uptrend channel inside the downtrend channel (pink). This could be very well a triangle.

Conclusion:
Once again we need to monitor all the charts.

Gold and EUR charts

EUR 4h

No change n developments...

---

Gold 4h

H&S is invalidated, but short-term development is still bullish.

Charts

EUR/USD 4h

EUR is in down channel (blue).
At the moment it looks like a correction, but we expect the price to fall to the bottom before go up.

Silver

Silver chart is similar to gold chart so it is not included.

Gold 12h

Unlike EURo, Gold and Silver are still over the support (blue line) from recent raly. The triangle (brown) is broken, but price do not made new high, so probably the triangle or support will be tested again.

Gold 2h

On the 2h chart, we can see H&S bottom may be forming. Second sholder is at the same level as first one, so if the price fell little bit more, the H&S pattern will be invalidated.

Please note that H&S PATERN IS *NOT* FORMED UNTIL IS FORMED and require price to raise over the neckline level at ~1,350.

Charts

EUR/USD 4h

Previous top was broken for a while, but now once again is under it. Price remains in pink channel, and probably will fall.
Silver 4h

Broken triangle.

Gold

Gold 12h

Broken triangle.
Gold 4h

Broken down channel (part of the triangle).
Just upper is the formal support line (pink).



Gold 1h

Broken down channel (part of the triangle)