EUR/USD Respects Bullish Trend

By James Chen
16 August 2010 @ 11:45 am EDT

EUR/USD (a 4-hour chart of which is shown) as of Monday (8/16/2010) has made a pronounced bounce off a key uptrend support line extending from the very beginning of the currency pair's most recent prolonged bullish run, the 1.1875 4-year low hit on June 7. This rather precise bounce, which occurred just above 1.2700 support, highlights the strong dynamic support provided by the trendline. For more EUR/USD technical analysis, please click here.

James Chen, CTA, CMT

IBTimes Forex Experts

E-Newsletters

We value your privacy. Your email address will not be shared.