As of Wednesday (2/17/2010) price action on EUR/USD, a daily chart of which is shown, has begun to re-assert its bearish stance within the context of the pair’s overall downtrend. This occurs after price made a swift and strong bullish correction on Tuesday, reaching up to approach significant resistance in the key 1.3800 support/resistance price region. After the bullish correction was rejected from that price area on Wednesday, the pair is potentially poised to resume the downtrend that has been in place since the breakdown of the prior uptrend in early December. For more technical analysis on this currency pair,
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