EUR USD on 50% Support at 1.4762

Aversion to risk is helping to put pressure on the EUR USD. A key 50%price at 1.4762 however, has slowed down the rate of the decline.

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EUR USD

Aversion to risk is helping to put pressure on the EUR USD. A key 50% price at 1.4762 however, has slowed down the rate of the decline. If this area fails to hold, then look for a further decline to 1.4696. Traders are starting to realize that we may be nearing the end of the “easy money” cycle and a shift in sentiment may be taking place. This will mean an end to central bank liquidity and demand for higher risk assets.

Traders seem to already be bracing for tomorrow’s German Unemployment Report. Pre-report estimates are for an increase in German unemployment from 8.2 to 8.3 percent. 

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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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