| EUR/USD - Hits 1.2500 Target, Continued Bearish Bias Posted: 07 May 2010 07:31 AM PDT  After the dramatic drop this entire week (and especially on Thursday) that has established a new 14-month low around its expected 1.2500 support target, price action on EUR/USD (a daily chart of which is shown) has made an anticipated bullish correction. Despite this counter-trend correction, the strong bearishness that has characterized this currency pair for the last several days is likely not yet over. For more technical analysis on this currency pair, please click here for Friday’s (5/07/2010) 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.
* For information on my new book, Essentials of Technical Analysis for Financial Markets (Wiley), please click here. 
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