Weekly Highlights December 6-11 2009

1. DXY - Dollar continued to climb up on the backdrop of better than expected economic readings. Technically, the DXY marked some major milestones: 
• Close above the 10 week EMA for the first time since April
• Break above the 50 day MA 
• Moving average crossover on the upside
2. EURUSD - traded down on stronger USD and concerns over Greece and other Eurozone members.
• EURUSD closed below the 10 week EMA for the first time since April
• Possible support on the 20 week EMA and expected consolidations around 1.4600
3. AUDUSD - traded down as well, although showed relative strength compared to the EURUDS and GBPUSD. 
4. JPY - Yen pairs seem to be forming a base and a reversal from Yen strength to Yen weakness is expected. Any good news (or not worse than expected news) may facilitate this swing in the Yen. In addition, watch for any remarks from Japanese officials regarding high Yen.