| EUR/USD - Re-Test of Long-Term Lows Posted: 22 Apr 2010 07:58 AM PDT  Substantially bearish price action on EUR/USD, a daily chart of which is shown, has once again descended to re-test the 10-month lows that were hit in late March (1.3266) and double-tested in early April (1.3281). The current re-test of these lows could either become a triple bottom low or turn into a key support breakdown scenario. In the event of the latter case, price will have finally confirmed a downtrend continuation. For more technical analysis on this currency pair, please click here for Thursday’s (4/22/2010) 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.
* For information on my new book, Essentials of Technical Analysis for Financial Markets (Wiley), please click here. 
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