Friday, April 23, 2010

Forex Fridays

The dollar is in a clear uptrend and has consolidated in several downward sloping pennants (a and b). In addition, the dollar is in a solid uptrend at point c. However, there is a strong fundamental reason for the upswing, largely caused by the situation is Greece which is leading to a flight for safety. In addition, notice the dollar and the euro are inversely related: