Friday, April 16, 2010

Forex Fridays

a.) Prices gapped down through an important upward sloping trendline.

b.) After the break, prices clustered around the 50 day EMA. They moved into the 200 day EMA, but bounced off to move a bit higher.

c.) The shorter EMAs (10 and 20) are negative. In addition, the 10 has crossed below the 20. However, these two EMAs have done this recently, only to have the market again move higher. The 50 day EMA is moving into a more horizontal position, but isn't there yet.

d.) Momentum is negative, as is

e.) The A/D line.

On the flip side of the dollar is the euro, which has been moving lower. In other words, the dollar has been the primary beneficiary of the Greek situation; the currency has retained its safe haven status.