Through the Fed’s announcement to create inflation through currency debasement, the US Dollar managed to hold key support levels. While this feat is nothing short of miraculous, we believe the dollar’s days of holding key technical levels are soon to be over.

Currency traders around the world are sizing up the value of the US Dollar (INDEX: $USD) this week. With news on potential Quantitative Easing II (QE2) coming tomorrow, traders expect further dollar weakness. The US Dollar Index is on the verge of a breakdown from a key 3-year support level.

Endeavour Silver (AMEX: EXK) & Allied Nevada Gold (AMEX: ANV) are two mining stocks popping up on our radar. With gold and silver declining in recent trading, each of these stocks are approaching key support levels. Tim Geithner’s comments defending the US Dollar has weakened gold prices – giving precious metals a short term sale on gold and silver.

NovaGold Resources, Inc. (AMEX:NG), Silvercorp Metals (NYSE:SVM) and Endeavor Silver Corp(AMEX:EXK) are three mining stocks climbing the wall of worry. Even with the massive run in precious metals prices, these three stocks could double yet again before the next presidential election.

Today’s chart scan shows the fall of the US Dollar (USD) and Exxon Mobil (XOM). The US Dollar has been in a 4-month decline with quantitative easing taking place. The USD is approaching a major long term support trendline. Exxon mobile (XOM) has been in a downtrend despite crude oil strengthening. It recently touched a key resistance trendline.

The term “blue skies breakout” applies to any stock moving above all existing resistance levels. Many large cap gold mining stocks exhibit charts nearing all time highs. These stocks provide modest dividends of around one-percent, but you can reasonably expect future dividend hikes as mining profits increase.

Today’s chart scan highlights Apple (NASDAQ: AAPL) and Powershares US Dollar Double Bearish (NYSE: UDN). With so many people on the Apple bandwagon its important to consider contrarian views. While the fundamental picture for Apple is very strong, the chart at least indicates some near term resistance. The Double Bearish US Dollar Index looks strong as well with a recent inverse head & shoulders candlestick breakout with volume.

Peter Schiff, of Euro Pacific Capital uses illustrations, humor and storytelling to explain economic and monetary concepts in his book, How and Economy Grows and Why it Crashes. The book uses parody and analogy to compare our current global economy with a small island economy based on fishing.

Today’s chart scan highlights Baytex Energy Trust (BTE) and Powershares US Dollar Index (UUP). Baytex currently offers a lucrative 6.30% dividend ratio. Additionally, its shows a symmetrical triangle formation on decreasing volume. The Powershares Dollar Index (UUP) is also important to watch given the recent FED action. UUP is quickly approaching key long term support levels.

Most books and financial advisers out there do a great job of pretending to predict future events after the fact. This isn’t the case for controversial market forecaster,  Peter Schiff of Euro Pacific Capital. In his book, Crash Proof 2.0: How to Profit From the Economic Collapse, the real estate and stock market crashes were [...]