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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Dots

...If the dots don't connect, gather more dots until they do...

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Monday, August 29, 2011

US$...the currency that no-one wants...

While they vacation and go into their dream-like stupor until next year's election is over, the U.S. "powers-that-be" seem to be content to watch the US$ slip further down into the "abyss" as shown on the Weekly chart below...


While Gold holds above the current month's Volume Profile Point of Control of 1773.90 and the Monthly VWAP of 1763.70 after bouncing off a Fibonacci confluence level of 1700ish as shown on the Daily chart below: