Price action on EUR/USD (a daily chart of which is shown) as of Friday (3/04/2011) shot up to hit key resistance at 1.4000 on the Non-Farm Payrolls report before quickly retreating back down in a swift whipsaw move. The fact that the highly significant 1.4000 psychological level could not be substantially breached as of yet strengthens its importance as the current level to watch. For more technical analysis on this currency pair, please click here for Friday’s (3/04/2011) 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 

