Mar 1, 2010

FX Path

FX Path

EUR/USD - Consolidation within Strong Bearish Trend

Posted: 01 Mar 2010 07:52 AM PST

Price action on EUR/USD, a daily chart of which is shown, has formed yet another short-term consolidation within the context of a strong bearish trend that has been in place since early December. The current consolidation continues to carry a bearish bias. For more technical analysis on this currency pair, please click here for Monday’s (3/01/2010) 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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