EUR USD on Path for Test of 1.4444

Following the change in trend to down on the daily chart and last week’s closing price reversal top, the EUR USD is under pressure today.

Following the change in trend to down on the daily chart and last week’s closing price reversal top, the EUR USD is under pressure today.

Currently, downtrending Gann angle resistance is coming in at 1.4683.  The market should remain weak as long as it stays under this resistance angle.

Based on the major range of 1.4045 to 1.4843, the charts indicate that this market is poised to retrace to 1.4444 to 1.4350 over the short-run.

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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