| EUR/USD - Potential Reversal Pattern Posted: 19 Oct 2010 12:09 PM PDT  Price action on EUR/USD (a 4-hour chart of which is shown) as of Tuesday (10/19/2010) has broken down below multiple static and dynamic support levels, and has gone on to breakdown below key support in the 1.3800 price region. This places the currency pair at a critical juncture, as price action below this level could signify that a bearish trend reversal is in the making. For more technical analysis on this currency pair, please click here for Tuesday’s (10/19/2010) 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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