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
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Price action on EUR/USD (a 4-hour chart of which is shown) as of Thursday (10/07/2010) has risen substantially from its 1.3800 resistance breakout point to reach and slightly surpass its 1.4000 target before retreating, establishing a fresh 8-month high in the process. This occurs within the context of a steep uptrend channel that has characterized this pair since the September low around 1.2650. The current directional bias, in line with the strong bullish trend, continues to be to the upside. For more technical analysis on this currency pair, please click here for Thursday’s (10/07/2010) Chart of the Day.
Price action on EUR/USD (a 4-hour chart of which is shown) as of Tuesday (10/05/2010) has continued its dramatic recent bullishness by breaking out above prior key resistance in the 1.3800 price region, establishing an 8-month high in the process. This occurs within an exceptionally steep, continuing uptrend channel extending from mid-September. For more technical analysis on this currency pair, please click here for Tuesday’s (10/05/2010) Chart of the Day.