| EUR/USD - Resumes Bearish Stance Posted: 11 May 2010 08:31 AM PDT  Price action on EUR/USD, a daily chart of which is shown, has begun once again to resume its bearish stance after having made a sharp bullish correction up to approach strong resistance in the 1.3100 price region in the beginning of this week. The current bearish resumption occurs after last week's dramatic plummet down to approach key support in the 1.2500 price region that established a new 14-month low for the pair. Although Monday's bullish correction up to 1.3100 was swift and substantial, it quickly retreated and has turned out thus far to be a failed recovery. For more technical analysis on this currency pair, please click here for Tuesday’s (5/11/2010) Chart of the Day.
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