| EUR/USD - Bearish Resumption after Bullish Correction Posted: 17 Feb 2010 08:20 AM PST  As of Wednesday (2/17/2010) price action on EUR/USD, a daily chart of which is shown, has begun to re-assert its bearish stance within the context of the pair's overall downtrend. This occurs after price made a swift and strong bullish correction on Tuesday, reaching up to approach significant resistance in the key 1.3800 support/resistance price region. After the bullish correction was rejected from that price area on Wednesday, the pair is potentially poised to resume the downtrend that has been in place since the breakdown of the prior uptrend in early December. For more technical analysis on this currency pair, please click here for Wednesday’s (2/17/2010) 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. 
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