Aug 27, 2010

FX Path

FX Path

EUR/USD - Potential Bear Flag

Posted: 27 Aug 2010 09:07 AM PDT

Price action on EUR/USD (a 4-hour chart of which is shown) as of Friday (8/27/2010) has begun once again to lean towards a resumption of the bearish trend that originated in early August. This occurs after price hit a low just below 1.2600 earlier in the week and then made a bullish retracement. For more technical analysis on this currency pair, please click here for Friday’s (8/27/2010) 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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