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3, 2, 1, Aaaaannndddd.... 8/7/20


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Gold and silver still overboght. 

lets see what next week brings. Im curious whether this was just one day move on dollar or its start of something, at least a coreection which would move copper and commo in general

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To recap:

1/ Evictions: No eviction moratorium or new rental $, asks HUD to "consider" if evictions should stop

2/ Unemployment: Uses $44B from FEMA to cover $300/week benefit for ~5 more weeks

3. Taxes: Option to defer payroll tax payment, but w/o new law they'll still be due

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2 hours ago, SiP said:

To recap:

1/ Evictions: No eviction moratorium or new rental $, asks HUD to "consider" if evictions should stop

2/ Unemployment: Uses $44B from FEMA to cover $300/week benefit for ~5 more weeks

3. Taxes: Option to defer payroll tax payment, but w/o new law they'll still be due

Unconstitutional bullcrap.  Another snowjob from the dictator.  None of this will happen.  

The US is a banana republic. It's why the USD has turned to shit.  

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The next 4 months in the US will be sheer hell. Absolute chaos. This will end very badly. We just don't know how yet. 

My guess, as it was 3 years ago when I first predicted exactly what we're seeing now, is a military coup to remove Trump. That's the least worst case actually. The worst case is if he stays in office illegally.  There will be bloodshed on the streets. 

 

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I guess we can always dream that there are a few patriots left in the Regime who, in the end, might walk him out. But highly unlikely. These people are fucking fascists.   

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6 hours ago, DrStool said:

The monthly oscillators say that the euro will break out within a few months. The target would then be 1.25, and if they get through that, then 1.45.  

tvc_7dac21b31ee6056670a147992e8667aa.png

Good to get confirmation from your stuff. I share that view. Given that MASSIVE congestion area around 1.25 I am quite sure that EUR/USD will virtually explode to the upside once that level is cleared. That 1.25 is like a watershed.

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6 minutes ago, fxfox said:

AUD/USD has also a very nice monthly chart setup. Massive pos divs in MACD, sitting at EMA 50 and downtrendline. AUD should perform very well if Gold advances much more.

they need to clear 0.73 first

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The withdrawal of USD liquidity (even if it has clearly abated in recent weeks) is a reason to expect EUR/USD to retrace from current levels as the hot money long EUR vs. USD positioning is already stretched at 21.1% of net open interest. We have only had 12 weeks of larger net long positioning on CFTC data over the past decade.

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