On the weekly dollar chart, notice the following:
-- The dollar is clearly in a rally
-- The 10 and 20 week SMA are both advancing
-- The 50 week SMA is turning positive
-- Prices are above all the SMAs
-- Prices have broken through more resistance levels established last year
On the daily chart, notice the following:
-- All the SMAs are moving higher
-- The 10 day SMA is between the 20 and 50 day SMA. Aside from that, the SMAs are in a very bullish alignment
-- Prices are above all the SMAs
-- Prices are about to cross over a very important technical level.
Bottom line: these are bullish charts. Both indicate further advances are coming down the pike.
