Friday, November 6, 2009

Forex Fridays

Click for a larger image

The dollar chart is one of the best bear market charts available. First, notice it is printing a continued series of lower highs (B) and lower lows (A). In other words, prices a continuing to move lower in an organized, disciplined way.

Also note the EMA picture: they are all moving lower, the shorter are below the longer and prices have just moved below all the EMAs.

While the MACD has moved higher, that is likely to change as prices start to move lower.