Price action on EUR/USD (a daily chart of which is shown) as of Friday (10/01/2010) has closely approached its bullish target in the 1.3800 resistance price region, establishing a new 6-month high, after having risen at a remarkably steep angle since the general uptrend in EUR/USD accelerated in mid-September. The 1.3800 target is both a key 161.8% Fibonacci extension level as well as an important prior support/resistance area. For more technical analysis on this currency pair, please click here for Friday’s (10/01/2010) 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.
Technical Trading Tips and Techniques by 

i am also forex trader and i derived my own formula to predict market and i have given it the name “candle measuring “formula and it works its my invention i hope you people will like when i will brief you …euro is in overbought region and it will be very good sell if got 1.3874 area.that’s my forecast about euro and you can note down time its 07:40 GMT