Oct 13, 2010

FX Path

FX Path

EUR/USD - Retreat From 1.40 But Still Bullish

Posted: 13 Oct 2010 10:29 AM PDT

Price action on EUR/USD (a 4-hour chart of which is shown) as of Wednesday (10/13/2010) has tried but thus far failed to rise above key 1.4000 resistance after bouncing up off 1.3800 support on Tuesday. Early Wednesday trading saw price action rise all the way up to hit 1.4000 right on the figure before retreating. For more technical analysis on this currency pair, please click here for Wednesday’s (10/13/2010) 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.
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