| EUR/USD - 4-Year Low and Continued Potential Bearishness Posted: 18 May 2010 07:11 AM PDT  Price action on EUR/USD, a daily chart of which is shown, dipped below 1.2300 support on Monday (5/17/2010) before correcting back up above that level and consolidating as of early Tuesday (5/18/2010), New York session. The technical bias on EUR/USD, however, remains substantially bearish in line with the strong continuing downtrend in the pair that reached a new 4+ year low on Monday. For more technical analysis on this currency pair, please click here for Tuesday’s (5/18/2010) 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.
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