Weak Euro Poised to Post Weekly Reversal Top

The selling pressure in the EUR USD did serious damage to the chart andhas put this pair in a position to post a weekly reversal down.

Analysis

The selling pressure in the EUR USD did serious damage to the chart and has put this pair in a position to post a weekly reversal down.

Today’s trading action took out a major 50% retracement price as well as four up trending Gann Angles, but the worst of the damage is yet to come as this pair is set to make a weekly closing price reversal down on a close under 1.4159.

Based on this developing chart pattern, this market has a chance to break to 1.3608 by June 11 – 12.

Daily Chart

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