Friday, December 19, 2008

Forex Friday's



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Notice the following on the weekly chart

-- Prices have moved through the 10 and 20 week SMAs

-- The 10 week SMA has turned lower

-- The RSI was overbought but is now in neutral territory

-- The MACD is overbought



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Notice the following on the daily chart:

-- Prices have broken through two levels of technical support this week

-- The 10 and 20 day SMA are both moving lower

-- The 10 day SMA has crossed below the 50 day SMA and the 20 day SMA is about to

-- The RSI is now oversold as is the MACD