EUR USD Breaks Through Gann Angle Resistance

After two days of finding resistance at a downtrending Gann angle, the EUR USD finally broke through to the upside.

After two days of finding resistance at a downtrending Gann angle, the EUR USD finally broke through to the upside.

The breakout over this resistance angle has put the EUR USD in a position to test the high for the year at 1.4843.

A move through this price will reaffirm the uptrend on the weekly chart.  A new main bottom has been formed at 1.4480 on the daily chart.

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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