EUR USD in Position to Post Reversal Top

The EUR USD is weakening after the release of the Fed FOMC announcement. The current intraday weakness suggests the strong possibility of a closing price reversal top.

The EUR USD is weakening after the release of the Fed FOMC announcement. 

The current chart formation suggests the strong possibility of a closing price reversal top.  The best sign of a top formation will be a lower close, a close below the opening and a close below 50% of the day’s range.

To keep it simple, a close under 1.4787 will be the strongest sign that a short-term top is being formed.