Forex technikal and fundamental analysis: FX Path

Feb 5, 2010

FX Path

Posted: 05 Feb 2010 09:28 AM PST

Price action on EUR/USD, a daily chart of which is shown, has displayed continued marked bearishness recently, strongly confirming a new downtrend in the pair. This new downtrend was initiated after the previous long-term uptrend was broken decisively to the downside in early December. After that breakdown, the bearish trend has been characterized by several short-term bullish retracements and consolidations in the form of inverted flag patterns, but each time these trend interruptions were broken strongly to the downside. For more technical analysis on this currency pair, please click here for Friday’s (2/05/2010) Chart of the Day.

- James Chen, CTA, CMT

* For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.

New York Traders Expo

Posted: 05 Feb 2010 06:47 AM PST

Just a quick announcement that I will be at the New York Traders Expo being held at the Marriott Marquis Hotel in Times Square, New York City on February 15 and 16 (http://www.moneyshow.com/nyot/main.asp?scode=012453).

I will be giving a live seminar covering forex trading methods on Monday, Feb 15 at 3:45 PM.

Also, I will drop by the FX Street booth to sign copies of my new DVD set, High-Probability Trend Following in the Forex Market, on Tuesday, Feb 16 at 11:00 AM.

For the rest of the expo I will be at the FX Solutions booth and will be happy to speak at length with anyone that would like to drop by.

Hope to see everyone there!

- James Chen, CTA, CMT