Technical Trading Tips and Techniques by 
As of Wednesday (2/17/2010) price action on EUR/USD, a daily chart of which is shown, has begun to re-assert its bearish stance within the context of the pair’s overall downtrend. This occurs after price made a swift and strong bullish correction on Tuesday, reaching up to approach significant resistance in the key 1.3800 support/resistance price region. After the bullish correction was rejected from that price area on Wednesday, the pair is potentially poised to resume the downtrend that has been in place since the breakdown of the prior uptrend in early December. For more technical analysis on this currency pair, please click here for Wednesday’s (2/17/2010) Chart of the Day.
- James Chen, CTA, CMT
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Dear Sir:
The Euro will go down to 1.25 in 25 more days based on the assumption that the PIGS are all in trouble financially. Germany is the only healthy country. France is having it’s own nightmare & England is having massive deficity,(even though England it is not on the Euro). Then the USA Dollar will be hit hard around summertime with the Dollar Indext going to 59 with California’s Massive $541billion debt & the US $13 Trillion Debt, China will stop buying T-bills. This will cause the Euro to somewhat stabilize, but I am not sure maybe 1.28 and the dollar will sink to 69 Yen.
Hi Paul,
Thanks so much for visiting and for giving your analysis!
James Chen