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EUR/USD - Traversing a Parallel Uptrend Channel

Posted on August 25, 2009 at 17:28 in Analysis by James Chen

Price action on EUR/USD has continued to traverse up a parallel uptrend channel that has been in place since early June. Late last week, price was able to break out above a short-term, bearish counter-trend line, and was targeting the top of the channel once again. For more technical analysis on this currency pair, please click here for Tuesday’s (8/25/2009) Chart of the Day.

2 Responses to “EUR/USD - Traversing a Parallel Uptrend Channel”

  1. on 25 Aug 2009 at 11:01 pm1Sum

    Basing on current EUR Zone economy, do you still see this pair go pass 1.445 level in the near term?

    Thank you,

    Sum

  2. on 27 Aug 2009 at 7:42 pm2James Chen

    Hi Sum,

    Thanks for your comment. Yes, I think it should break that level in the near foreseeable future. Thanks, for visiting, Sum!

    - James Chen

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