May 4, 2010

FX Path

FX Path


EUR/USD - Breakdown Establishes 12-Month Low

Posted: 04 May 2010 07:52 AM PDT

Price action on EUR/USD, a daily chart of which is shown, has tentatively broken down below key support in the 1.3100 price region, establishing a new 12-month low in the process. This bearish break has also confirmed a continuation of the strong downtrend that has been in place since December 2009. For more technical analysis on this currency pair, please click here for Tuesday’s (5/04/2010) Chart of the Day.

James Chen, CTA, CMT

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