Price action on EUR/USD (a 4-hour chart of which is shown) as of Thursday (7/29/2010) morning, has reached its upside resistance target of 1.3100, as noted in Monday's EUR/USD analysis. This occurs within the context of an accelerated parallel uptrend channel that originally stems from the 1.1875 low in early June, and after breaking out cleanly above the prior 1.3026 high. For more technical analysis on this currency pair, please click here for Thursday’s (7/29/2010) Chart of the Day.
James Chen, CTA, CMT
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