Technical Trading Tips and Techniques by 
(Please click on the accompanying chart to enlarge.)
As of late New York session on Tuesday, price on the EUR/USD daily chart is approaching the long-term uptrend line that extends back at least two-and-a-half years. For more details on this EUR/USD setup, please click here for Tuesday’s Chart of the Day.
- James
James Chen is the Chief Technical Analyst at FX Solutions, a leading Forex broker. He is also a registered Commodity Trading Advisor (CTA) and a Chartered Market Technician (CMT) Level 3 candidate. At FX Solutions, Mr. Chen writes daily currency analysis, conducts forex trading seminars, and has authored numerous articles on currency trading and technical analysis for major financial publications. His upcoming book, Essentials of Foreign Exchange Trading (John Wiley & Sons), will be released in early 2009.
Hi James,
Are you expecting to test trend line support or making new low on both euro and sterling pairs,are todays low we considering the short term botom. (Any idea)
Hi St_Fx,
In my opinion, there should be some more room to move down on both pairs before hitting any type of bottom. For EUR/USD, as my post suggests, I am looking for price to move down a bit closer to long-term uptrend support before making any major turns. Thanks.
- James