Euro Posts Hourly Reversal Top

The EUR USD posted a closing price reversal top at 1.3300 on the hourly chart which was confirmed on the trade through 1.3267.

The EUR USD posted a closing price reversal top at 1.3300 on the hourly chart which was confirmed on the trade through 1.3267.

The bigger picture indicates that the market may correct back to at least 1.3092.  In the short-run, the first objective of this retracement is 1.3206.

Selling weakness carries a little more risk so those more risk averse may want to wait for a confirmation of the reversal top.  These traders should watch for a retracement back to least .13277.