| EUR/USD - Bullish Break Out Posted: 02 Aug 2010 08:53 AM PDT  Price action on EUR/USD (a 4-hour chart of which is shown) as of Monday (8/02/2010) morning has made a dramatic upside breakout above last week's high in the 1.3105 price region to approach 1.3200 resistance, establishing almost a new 3-month high in the process. This occurs within the context of a well-formed parallel uptrend channel extending from the late June lows. For more technical analysis on this currency pair, please click here for Monday’s (8/02/2010) 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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