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.