Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

EUR/USD Head & Shoulders

EUR/USD (a 4-hour chart of which is shown) as of Friday (2/11/2011) has descended to key support in the 1.3500 price region, which is also in the approximate vicinity of the neckline of a clear head & shoulders chart pattern, as well as the 38.2% Fibonacci retracement of the last bullish trend run. Price is therefore at a critical juncture. For more EUR/USD forex technical analysis, please click here.

James Chen, CTA, CMT