Friday, January 22, 2010

Forex Fridays

A.) There are four gaps higher in the first leg of the dollars rally.

B.) This is followed by a pennant pattern consolidation.

C.) After retreating to the 50% Fibonacci level, prices continued their upward climb, again gapping higher on several occasions.

A.) The MACD has given a buy signal,

B.) Money is flowing into the stock, and

C.) The EMAs are in a bullish configuration, although in a newly bullish configuration. That means ideally we'd like to see more time in this alignment.