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

Forex Trading Technical Analysis (2010/09/27) EUR/USD Consolidates Gains in Steep Uptrend

EUR/USD (a daily chart of which is shown) as of Monday (9/27/2010) has consolidated its substantial gains of last week by trading in a relatively tight range above the 1.3400 support/resistance level. This occurs within the context of both a steep bullish trend run that has been in place for the past two weeks, as well as a general uptrend extending back to the early June pivot low. For more EUR/USD forex technical analysis, please click here.

James Chen, CTA, CMT