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.