Friday, January 16, 2009

Forex Fridays



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Notice the following on the weekly chart

-- In the second half of last year prices rallied to technical resistance levels established in 2006, but then ran into selling pressure

-- Prices fell to just below the 20 week SMA and have since rallied to just below the 50 week SMA

-- The RSI is neutral and

-- The MACD looks peaked out




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Notice the following on the daily chart

-- Prices fell in December but have since risen

-- Price have moved through all three SMAs, although they are just above the 50 day SMA

-- The RSI is rising

-- The MACD is rising