Nov 18, 2010

FX Path

FX Path

EUR/USD - Bullish Turn Within Uptrend

Posted: 18 Nov 2010 09:11 AM PST

Price action on EUR/USD (a daily chart of which is shown) as of Thursday (11/18/2010) has made a tentative bullish turn after descending to approach very closely the 50% Fibonacci retracement level of the last major bullish run (from the late August low to the early November high). For more technical analysis on this currency pair, please click here for Thursday’s (11/18/2010) 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.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.
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