EUR USD Set Up for Daily Reversal Top

The EUR USD erased all of this morning’s gains while breaking back under the psychological $1.5000 area. 

The EUR USD erased all of this morning’s gains while breaking back under the psychological $1.5000 area.  This morning’s dramatic turnaround in the EUR USD has set up this market for a daily closing price reversal top.

The short-term chart pattern suggests a break to 1.4771 to 1.4702 is likely over the near-term.

Today’s Gann angle chart suggests the strong possibility of a test of 1.4799 based on the current momentum.

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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