EUR USD on Target for Test of 1.3611

The sharp sell-off in the EUR USD has this market in a position to challenge the pair of main bottoms at 1.3804 and 1.3791.

Analysis

The sharp sell-off in the EUR USD has this market in a position to challenge a pair of main bottoms at 1.3804 and 1.3791.  A break through these two bottoms will change the trend to down and fuel further weakness to the 50% retracement price at 1.3611.

Up trending Gann Angles from previous bottoms at 1.3422 and 1.2884 indicate that June 11th and 12th are the best dates for the market to reach its downside target.

Daily Chart

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James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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