{"id":30074,"date":"2014-11-04T12:00:42","date_gmt":"2014-11-04T17:00:42","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=30074"},"modified":"2014-11-04T11:35:54","modified_gmt":"2014-11-04T16:35:54","slug":"lets-take-a-look-at-the-currency-markets","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2014\/11\/lets-take-a-look-at-the-currency-markets\/","title":{"rendered":"Let's Take A Look At The Currency Markets"},"content":{"rendered":"

In light of the news from the land of the rising sun and the sinking currency, let\u2019s reserve NFTRH 315\u2019s only real charting for a big picture monthly view of currencies, to which we usually give just a brief update, and then some misc. big picture monthly charts [not included in this excerpt] as we try to gain perspective on things that may seem illogical to our rational minds.<\/p>\n

\"xjy\"<\/a><\/p>\n

Yen<\/strong> is losing the next level of support.\u00a0 BoJ saw that support too. I\u2019ll bet they also took note of the big October bounce and found it unacceptable.<\/p>\n

\"xeu\"<\/a><\/p>\n

The Euro<\/strong> is losing the support zone after bouncing above it in-month.<\/p>\n

\"cdw\"<\/a><\/p>\n

Commodity currencies [Canada & Aussie Dollars<\/strong>] have done nothing\u2026 except remain bearish as they have been for the better part of the last 2 years.<\/p>\n

\"xad\"<\/a><\/p>\n

Swiss Francs<\/strong> continue to amble along, going nowhere with a long-term upward bias.<\/p>\n

\"xsf\"<\/a><\/p>\n

Indian Rupee<\/strong> continues in its uptrend channel with a \u2018just right\u2019 oversight from its Central Banker; you know, the sane one.<\/p>\n

\"rup\"<\/a><\/p>\n

The British Pound<\/strong> has now lost both support levels.\u00a0 In other words, those are now resistance and should be colored red the next time you see this chart.<\/p>\n

\"xbp\"<\/a><\/p>\n

Finally ladies and gentlemen, I give you Uncle Buck<\/strong>.\u00a0 He of the most powerful country on earth.<\/p>\n

\"usd\"<\/a><\/p>\n

Alan Greenspan showed the world how it was done early last decade and he used the strength in USD to leverage an inflationary policy that lifted the US stock markets but lifted gold much higher.\u00a0 This gave rise to the famed Dow-Gold ratio along with other indicators that put the lie to his inflationary operation as being anything other than a macro parlor trick doomed to failure.<\/p>\n

Then what happened in 2007?\u00a0 It began to fail.\u00a0 In 2008 it finally fell apart and from that destruction this new thing was built.\u00a0 This letter writer would be lying through his teeth if he tried to tell intelligent readers that he knew how it all worked, what its ultimate strengths and durations were and on the flip side, its vulnerabilities and limitations.<\/p>\n

All I can tell you is what I see happening and how I interpret it.\u00a0 As always I invite you to ask questions if I am unclear, set me straight if I am going down a wrong path or generally add to my own knowledge base as some of you so kindly do.<\/p>\n

This is the market report that uses Wonderland imagery as part of its presentation and what is happening now on the macro is exactly the reason why.\u00a0 Yet I am surely not the answer man, but I am a bullshit detector, decoder and manager.<\/p>\n

In some ways I am happy to see what I see out there because it is definite proof (to my eyes) that we are on the right track in viewing the markets as a Wonderland of possibilities\u2026 \u201cwhat it is it wouldn\u2019t be, and what it wouldn\u2019t be, it would. You see?\u201d \u2013Alice
\n<\/em><\/p>\n

But I am also deeply disappointed in other ways as I know many other rational and thoughtful people are.\u00a0 That is because it is downright scary when something takes off the mask of pretense as the BoJ did last week and just looks you straight in the eye, raw and unvarnished.\u00a0 It\u2019s honest, I\u2019ll give them that.\u00a0 But in some ways it really was a scary Halloween trick.\u00a0 Thinking of some potential implications, my blood runs cold.<\/p>\n

We are not in Kansas anymore.\u00a0 We are down the Rabbit Hole and the charts directly above are the maps, or better yet the levers to which policy seems to have no end in its efficacy and its power.<\/p>\n

I think what scares me personally is the feeling, as a market participant and as a member of society, of being controlled, without a say in the matter.\u00a0 With inflation ongoing, inflation signals are nonexistent and free license is given to more inflationary policy, while in the light of day prudent people (i.e. savers and non-asset owners) are being punished mercilessly on a global level\u2026 and the markets cheer this.<\/p>\n

My daughter and I watched The Texas Chainsaw Massacre, Part 2 on Halloween night.\u00a0 In this entertaining and cheesy version of the cult franchise Dennis Hopper, wielding a chainsaw himself, continually repeats \u201cTear it Down\u2026 Tear it ALLLL Down!\u201d<\/em> as he saws his way through the underground dwelling of the homicidal chili makers.<\/p>\n

Honest people can be forgiven for having similar sentiments toward the globally connected apparatus that is the modern financial market.\u00a0 Meanwhile, this market report will probably go back to its normal operation next week and to paraphrase Bob Dylan, simply seek to be on the right side of whatever side there is going forward.\u00a0 On to some more monthly charts, and a Wrap Up\u2026<\/p>\n

NFTRH 315 went to to finish up a report that basically wrote itself, since so many things, seemingly bizarre though they may be, are being made clear and are easily assessed.<\/p>\n

Subscribe to NFTRH Premium<\/a> for your 25-35 page weekly report, interim updates (including Key ETF charts) and NFTRH+ chart and trade ideas or the free eLetter<\/a> for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com<\/a> and Biiwii.com<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

In light of the news from the land of the rising sun and the sinking currency, let\u2019s reserve NFTRH 315\u2019s only real charting for a big picture monthly view of currencies, to which we usually give just a brief update, and then some misc. big picture monthly charts [not included in this excerpt] as we […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[6828,1840,6829,3421,256,77,1069,6827,4273,6826,5092,4785,6830,6831],"class_list":["post-30074","post","type-post","status-publish","format-standard","hentry","category-general","tag-australian-dollar-aud","tag-biiwiicom","tag-british-pound-gbp","tag-canadian-dollar-cad","tag-currency-market","tag-currency-trading","tag-euro","tag-euro-dollar-eur","tag-gary-tanashian","tag-japanese-yen-jpy","tag-nftrh","tag-notes-from-the-rabbit-hole","tag-swiss-franc-chf","tag-u-s-dollar-usd"],"yoast_head":"\nLet's Take A Look At The Currency Markets - 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