Friday, February 5, 2010

Forex Fridays

The dollar is in a classic up(A) down(B) up(C) pattern.

Prices consolidated in a pennant pattern (D).

The EMA/price picture is very positive. Prices are above all the EMAs; all the short EMAs are rising and the shorter EMAs are in a bullish orientation (the shorter are above the longer).

A.) Momentum is with the stock and

B.) Money is flowing into the UUP issue.