EUR USD Could Be Finishing Retracement

There are signs this morning that the EUR USD could be finishing its retracement of the 1.4337 to 1.3804 range.

There are signs this morning that the EUR USD could be finishing it’s retracement of the 1.4337 to 1.3804 range. 

Yesterday’s rally failed to trade through the major 50% retracement level at 1.4184 before selling pressure arrived.  The overnight range has been inside the previously range while finding resistance at a .618 price at 1.4133.

A break under the 50% price at 1.4070 could accelerate the market to the downside.

Based on last week’s closing price reversal top, this pair can still break all the way to 1.3610 over the short-term.

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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