FX Path

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AUD/USD - Following Bullish Trend Posted: 10 Mar 2010 08:22 AM PST Though technically still entrenched within a sideways consolidation, AUD/USD (a daily chart of which is shown) has displayed a marked bullishness since the early February low. This bullishness has prompted the pair to rise above several key resistance levels to the point where the 15-month high just above 0.9400 is not far off. For more technical analysis on this currency pair, please click here for Wednesday’s (3/10/2010) 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.

GBP/USD Continues Slide Within Overall Downtrend Posted: 10 Mar 2010 06:44 AM PST As of Wednesday (3/10/2010) morning New York session, price action on GBP/USD has continued its slide that began in the beginning of the week. Having broken down below the key 1.5000 mark, continued bearish price action in line with the overall downtrend could currently be targeting support around the long-term 1.4780 low of last week. - 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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