Forex Friday

Wow -- the dollar is in the middle of a really strong rally now. This is largely because -- despite all of our problems -- the dollar is still seen as a calm port in the storm.



On the weekly chart, notice the following:

-- All the SMAs are moving higher

-- The shorter SMAs are above the longer SMAs

-- Prices are above all the SMAs

-- Prices have continually moved through previously established resistance levels

-- Prices are using the SMAs as technical support

Bottom line: this is a bullish chart



On the daily chart, notice the following:

-- All the SMAs are moving higher

-- The shorter SMAs are above the longer SMAs

-- Prices are above all the SMAs

-- Prices have continually moved through previously established levels of resistance

Bottom line: this is a bullish chart.