Mar 25, 2010

FX Path

FX Path

REMINDER - International Traders Conference Online 2010

Posted: 25 Mar 2010 11:54 AM PDT

This is a reminder that I will be one of the keynote speakers at FXstreet.com's International Traders Conference Online 2010 on April 6-8. This 3-day online conference will feature the same key speakers, topics, and live trading education as the International Traders Conference 2009 in Barcelona that I participated in last year.

Speakers will include: Rob Booker, Valeria Bednarik, Markus Heitkoetter, Ashraf Laidi, Kim Cramer Larsson, Andrei Pehar, and myself. We will be giving comprehensive, detailed speeches on our various approaches to trading forex, and will also be conducting LIVE trading sessions.

Here are all the details and registration information for this upcoming online conference: http://www.traders-conference.com/itc-online.aspx . Hope to see you all there!

- 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.

GBP/USD - Key Breakdown within Downtrend

Posted: 25 Mar 2010 08:42 AM PDT

Price action on GBP/USD, a daily chart of which is shown, has broken down cleanly below both the key 1.5000 price region and a short-term uptrend support line extending from the early March low. This occurs within the context of a strong downtrend in the pair. As of Thursday (3/25/2010) morning New York session, price made a bullish retracement of yesterday's substantial drop, but was rejected by the key 1.5000 level almost precisely at the round figure, and then dropped back down to re-test yesterday's lows. For more technical analysis on this currency pair, please click here for Thursday’s (3/25/2010) 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.

USD/JPY - Continues Upside Bias

Posted: 25 Mar 2010 06:30 AM PDT

Price action on USD/JPY as of Thursday (3/25/2010) morning New York session retraced somewhat after the substantial bullish move from Wednesday, but continues to carry a bullish bias. After having broken out above the 92.00 region resistance, the next key upside target resides around the 93.75 price region. With Wednesday’s move and a potential continuation today, the longstanding downtrend in the pair has effectively been interrupted. With further upside momentum, the possibility of a trend reversal becomes significant.

- 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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