EUR USD On Pace for Test of 1.4873

This morning’s robust U.S. Third Quarter GDP Report is once again triggering demand for higher risk assets at the expense of the U.S. Dollar.

This morning’s robust U.S. Third Quarter GDP Report is once again triggering demand for higher risk assets at the expense of the U.S. Dollar.

Upside momentum has been building in the EUR USD all morning and this currency pair is currently in a position to take out yesterday’s high at 1.4840.  Stops are likely to get hit over this price which should drive this market to a 50% retracement level at 1.4873.

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

Disclainer: