EUR USD Set Up for Retracement to 1.4874

The EUR USD is edging higher ahead of the U.S. Gross Domestic Product Report. 

The EUR USD is edging higher ahead of the U.S. Gross Domestic Product Report. 

The main range is 1.4480 to 1.5063.  The retracement zone of this range is 1.4762 to 1.4696.  Uptrending Gann angle support is at 1.4670. This formed price cluster support at 1.4696 to 1.4670.

Last night the market stopped at 1.4684 and drew buying support.  Based on the short-term range of 1.5063 to 1.4684, watch for a retracement back up to 1.4874 to 1.4918. 

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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