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.
James Chen, CTA, CMT
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