Oct 12, 2010

FX Path

FX Path

EUR/GBP - Bullishness Continues Uptrend

Posted: 12 Oct 2010 11:34 AM PDT

Price action on EUR/GBP (a 4-hour chart of which is shown) as of Tuesday (10/12/2010) has made a swift breakout above key resistance in the 0.8730 price region as well as a counter-trend retracement trendline that has been in place since late last week. This breakout occurs within the context of a clear parallel uptrend channel extending back to the early September low. For more technical analysis on this currency pair, please click here for Tuesday’s (10/12/2010) 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.
posted by

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)