By
James Chen |
Technical Analysis | Aug 10, 2010 03:04AM GMT |
EUR/USD (a 4-hour chart of which is shown) as of Tuesday (8/10/2010) Asian session has tentatively broken down below a key parallel uptrend channel that has been in place since the late June 1.2150 low. This breakdown occurs after price hit a high of 1.3332 late last week. This uptrend channel has defined much of the bullishness that has characterized this currency pair for the last three months.
James Chen, CTA, CMT
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