I thought I´d expand my big picture roadmap series. I have PM, Commodities and Uranium up and running as big picture areas previously and Currencies will be a very important area to add. I have covered currencies extensively and continuously before this post but think it can be of value to bring it all together in one big picture currencies post, plus add a few new charts of course.

At the bottom of this post are links to all of my big picture posts.

Starting off here in the same way as I start off my big picture commodities posts and that is by looking at the three largest commodity currencies, vs the US dollar; AUD, CAD and NZD.
I first posted these three charts below about three months ago and then said that I was looking for a BO on all three. We got that, on all three, this month. Note that as it is a very powerful sign I would say. And the way CADUSD and AUDUSD goes, so does the commodities complex, as I have talked about in my previous big picture posts. Notice the cycles, they have bottomed and are moving up into a new 15 year bull cycle.

The three commodity currencies that are next in line after the three above I would say are the ones below; the Brazilian Real, Mexican Peso and the Norwegian Krone. NOKUSD just broke out the other day so now we have two BOs out of three on these so far.

Next we have the emerging markets´ currency ETF the CEW. It of course also reflects commodity prices since many emerging markets are built with commodities. It is just about at its massive resistance line inside my massive channel, to the left. And to the right we have it against USDU. There we have a BO and BT all done. Beautiful stuff really.
The emerging markets are going up because of two reasons really; the sinking US dollar is good for both commodity prices and for their massive sovereign debt levels which are mainly taken in US dollars. The stuff they sell go up and the value of what they are owed is sinking.

And right here among the commodity currencies I place the Euro. With the help of the charts below I laid it out in my very recent big picture commodities 3.0 post that I think that the Euro is clearly behaving like a commodity currency. Do read that section in that post as it is very important I would say.

Moving on to other crosses used. One that is sometimes used for tracking PM/Commodities is the CHFUSD cross. This one is decent but not brilliant. The best ones for tracking commodities are clearly the ones above, and the best ones are AUDUSD and CADUSD since they correlate very well with iron ore resp oil.
But one more that might have some use as of late for PM is the USDJPY cross. Below we have $GOLD with $USDJPY as overlay. Here we can see that it is just really since 2008 it has been useful, and then as a contra indicator.

Looking at the charts below for USDJPY, my 50 year chart to the left shows clearly that this cross has been in a bear market for circa 50 years. And the most important TA for this cross for PM is showed on this chart; my almost 50 year resistance line. On the weekly to the right the inverse h&s fractal, always a powerful combo but these particular ones I am pretty sure will fail spectacularly as the currencies at the top are showing us the way. I think my 50 year resistance line will hold. The neckline on the weekly is more or less the 50 year resistance line.

And as a bit of curiosa for most readers here, below we can see that the Swedish Krona is gaining strength and will probably outpace even the Euro going forward.

Then we have the US dollar plus the Euro. Below we see that it was my first line that stopped the $USD from moving higher and with that it certainly did not reach my purple neckline as I also said it would not.
The daily $USD below show that we have almost reached my last shorter term PO I had out of the three I lined up many months ago; 97, 95,5 and 94. We are also here very close to have reached the PO for my blue h&s. Plus, the last daily cycle played out perfectly and we are now probably at the DCL. This together makes me think that we bounce here. But not that far though when I look at my weekly $EURUSD further below.

And on the weekly for the two below we can see that $EURUSD has BO up above my resistance line for my rising triangle/wedge. This BO makes we think that the $USD does not have very much room to bounce here even though we have several circumstances on the daily above that normally would generate a bounce. We also have to remember that since 30 years ago, all bounces, big or small, has been BMRs. As I have said before, looking for the YCL here for the $USD, which is overdue.

Moving on to my monthly charts of the two, below. Here we have the $EURUSD BO above my DB neckline which I have said for more than six months that I have been looking for. I think we might hang around for a few months at the level for my neckline for my DT on the $USD, i.e. 92,5. After that it is blue ocean below for $USD as we have a thin zone from circa 91-84. Will make a special post on this when I get the time. The grey right hand boxes on the weeklies above and the monthlies below are of course not adjusted, yet.

Below we have my 30 year charts for the two. Showing a 30 year bull market for $EURUSD and a 30 year bear market for $USD. And as we can see now on the $USD chart, we are now right at the support line. This is one reason I thnk we will spend some time around here down to circa 92,5. When we let go of this then resistance line is when we enter the thin zone mentioned above.

And as a sidenote, the quarterly $USD chart above can be viewed as a channel too, like below. When shown like this it is interesting where we topped out for this 15 year cycle, right at the parallel resistance line. Not a coincidence of course.

Looking at UUP below, it is also showing us what I described above for $USD. It is clear, as I have said for maybe 7-8 months, that the US dollar is looking very weak.

And lastly, the USDU below. I like that apex hit on the daily, with that telling us that, well, I do not really have the strength to fight anymore.

So, in sum, all the important currency charts are with us, they are looking brilliant. As I see it.

Check my other big picture posts, linked below. I have tried to put every chart that is needed in there. I of course have loads more charts but the charts included in these posts are absolutely enough as I see it to fully grasp where we are and where we are going. I have of course posted zillions of other posts, including when I called the US dollar top circa 7 months ago, but the posts below are my big picture ones. Each big picture post has its own pieces of the puzzle.

The collected big picture list is here: