Price action on EUR/USD (a daily chart of which is shown) as of Wednesday (3/30/2011) has continued its net bearish corrective stance that has been in place for about a week, since the 1.4247 high was reached early last week. This bearishness began as just a bearish correction within the context of a strong uptrend extending back to the beginning of the year. Currently, however, price action appears to be on the verge of leaning towards a potential trend change to the downside. For more technical analysis on this currency pair, please click here for Wednesday’s (3/30/2011) 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 

