Price action on AUD/USD (a 4-hour chart of which is shown) as of Wednesday (9/08/2010) has resumed its bullish stance, after a bearish pullback, to approach the last major resistance high around 0.9220 reached in early August. This occurs within the context of a general uptrend extending from the June low. For more technical analysis [...] » Read More

Price action on GBP/USD (a 4-hour chart of which is shown) as of Tuesday (9/07/2010) has tentatively broken down below the previous major low of 1.5325 hit in late August to establish a new 6-week low just below 1.5300. This occurs within the context of a new potential downtrend extending back to mid-August, and is [...] » Read More

Just a quick reminder. I will be giving a seminar on forex trend trading and strength/weakness pairings at The Futures and Forex Expo in Las Vegas (September 23-25). Here are the details: http://www.moneyshow.com/lvfx/main.asp?scode=019708 . Hope to see everyone there!James Chen, CTA, CMT » Read More

Price action on USD/CAD (a 4-hour chart of which is shown) as of Thursday (9/02/2010) has settled above 1.0470 support once again after having just descended from a key resistance re-test in the 1.0670 price region, which formed a double-top high. This all occurs within the context of a short-term parallel uptrend channel extending from [...] » Read More

Price action on AUD/USD (a 4-hour chart of which is shown) as of Wednesday (9/01/2010) has broken out above several resistance levels, establishing a new 3-week high in the process. This occurs after price action broke out above an important parallel downtrend channel last week, corrected back down to re-test key 0.8850 area support as [...] » Read More

Price action on GBP/USD (a 4-hour chart of which is shown) as of Tuesday (8/31/2010) has dropped to approach support in the 1.5350 price region. This occurs within the context of a relatively choppy descent from the 6-month high just under 1.6000 reached in early August. This descent has formed a clear downtrend resistance line. [...] » Read More

Price action on GBP/JPY (a daily chart of which is shown) as of Monday (8/30/2010) has pulled back up to the lower border of the large rising wedge formation that it broke down last week, before reasserting its bearish stance today. The low that was reached on the wedge breakdown before pullback was in the [...] » Read More

Price action on 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 [...] » Read More