Oct 22, 2010

FX Path

FX Path

EUR/GBP - Looks to Continue Bullish Trend

Posted: 22 Oct 2010 08:58 AM PDT

Price action on EUR/GBP (a 4-hour chart of which is shown) as of Friday (10/22/2010) has reached up to a key bullish resistance target in the 0.8900 price region, establishing a 6-month high, after having followed a strong parallel uptrend channel since the early September lows. For more technical analysis on this currency pair, please click here for Friday’s (10/22/2010) 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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