| EUR/USD - Bullish Move Tentatively Breaks 1.2900 Posted: 22 Jul 2010 08:35 AM PDT  Price action on EUR/USD (a 4-hour chart of which is shown) as of Thursday (7/22/2010) has continued its climb after pulling back yesterday to just above 1.2700. As of Thursday morning New York session, price tentatively broke out above resistance at 1.2900 and could now potentially be targeting further upside. Since the long-term low in early June, price action has displayed consistently higher lows and higher highs, and this uptrend accelerated after the late June low was hit. For more technical analysis on EUR/USD, please click here for Thursday’s (7/22/2010) 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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