EUR USD Could Test 1.4444 Over Near-Term

The Euro is trading lower after the U.S. Non-Farm Payrolls Report.  Traders now expect the Euro to reach a major retracement level at 1.4444.

The Euro is down sharply. Traders are saying that government stimulus is not working and staying away from the more risky assets. The perception is if the U.S. economy is not on track to recovery then the Euro Zone is not going to improve.

The main trend is down on the daily chart and traders are looking for this currency pair to continue down to 1.4444 over the near-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