Friday, August 21, 2009

Forex Fridays

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The weekly chart still have a bearish bias. The MACD and the RSI are both heading lower. Prices formed a double top earlier this year and have since moved lower. All the EMAs are moving lower, the shorter EMAs are below the longer EMAs and prices are below all the EMAs.



The daily chart is still meandering. It moved down to the 77 level, only to move back up a bit. The MACD and RSI are very neutral; the MACD is sort-of moving and the RSI is at 50 which is very neutral. The 10 and 20 day EMA and prices are locked together in a very tight range and prices have moved in a very small range over the last few weeks.