Friday, July 17, 2009

Forex Friday

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On the weekly chart we have a declining MACD and RSI along with a downward break from prices. In addition, prices are below all the EMAs, the 10 day EMA has moved through the 50 day EMA and the 20 day EMA is about to follow suit.

The daily chart is showing a lower move as well. Prices have moved through the lower level of support of the triangle consolidation pattern. In addition prices are below all the EMAs and the MACD is currently giving a sell signal.