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Forex Trading Technical Analysis (2010/08/27) EUR/USD Leans Toward Bearish Trend Resumption

EUR/USD (a 4-hour chart of which is shown) as of Friday (8/27/2010) has begun once again to lean towards a resumption of the bearish trend that originated in early August. This occurs after price hit a low just below 1.2600 earlier in the week and then made a bullish retracement. For more EUR/USD forex technical analysis, please click here.

James Chen, CTA, CMT