Friday, October 30, 2009

Forex Fridays

The dollar is still very clearly in a downtrend. However at (A) we have a possible move through the trend line which would send prices higher. The vast majority of this chart is still very negative: prices are in a clear downtrend; the eMAs are negatively configured. While the 10 and 20 day EMAs have moved higher this is a preliminary move that needs more traction before we give it compete credence.