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Forex Trading Technical Analysis (2010/10/05) EUR/USD Targets 1.4000

EUR/USD (a 4-hour chart of which is shown) as of Tuesday (10/05/2010) has continued its dramatic recent bullishness by breaking out above prior key resistance in the 1.3800 price region, establishing an 8-month high in the process. This occurs within an exceptionally steep, continuing uptrend channel extending from mid-September. For more EUR/USD forex technical analysis, please click here.

James Chen, CTA, CMT