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.