EUR USD Testing 50% Level

The EUR USD confirmed yesterday’s closing price reversal top and changed the main trend to down on a trade through 1.4119.

Intra-Day Analysis

EUR USD

The EUR USD confirmed yesterday’s closing price reversal top and changed the main trend to down on a trade through 1.4119.

Based on the range of 1.3832 to 1.4304, the first downside retracement target is 1.4068 to 1.4012.  Currently the upper level of this zone is being tested.

Day-traders should watch to see if there is a technical bounce from this level.

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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