| EUR/USD - Chart of the Day Posted: 24 Mar 2010 08:36 AM PDT  Price action on EUR/USD, a daily chart of which is shown, has displayed a strong bearishness in line with the overall prevailing downtrend, establishing a new 10-month low in the process and confirming a downtrend continuation. After the key 1.3800 resistance was tested and respected several times last week, price broke down below a well-formed bearish rising wedge pattern. After that breakdown, continued bearish price action followed through to break down tentatively below the important 1.3400 support region as of Wednesday (3/24/2010). For more technical analysis on this currency pair, please click here for Wednesday’s (3/24/2010) 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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| USD/JPY - Bullishness Breaks Out Above Consolidation/Trendline Posted: 24 Mar 2010 06:44 AM PDT  Bullish price action on USD/JPY as of Wednesday (3/24/2010) morning New York session has broken out cleanly above both a symmetrical triangle consolidation pattern as well as a key downtrend resistance line (within a parallel downtrend channel) extending from the April 2009 high. This breakout price action has thus far extended all the way up to approach strong resistance in the 92.00 price region. In the event of further upside momentum that breaks out strongly above the 92.00 area, a key upside resistance target resides in the 93.75 price region.
- 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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| EUR/USD - Strong Breakdown Below Key 1.3400 Level Posted: 24 Mar 2010 06:27 AM PDT  Bearish price action on EUR/USD as of Wednesday (3/24/2010) morning New York session has finally broken down below the key 1.3400 support level, establishing a new 10-month low in the process. This support breakdown follows a clear breakdown of a bearish rising wedge pattern, and confirms a continuation of the strong downtrend that has been in place since the early December highs. As for a downside target, further key support below the now-broken 1.3400 level resides in the 1.3100 price region.
- 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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