By: Bradley C. Smith
Price action on the EUR/USD shows a likely retracement to and possibly threw the popular 1.5000 line Friday. The price is in the center of the Bollinger Band range so nothing wild is going on, so we must look to the other technicals for their guidance on the daily chart. The Full Stochastic, StochRSI and RSI are all at their centerlines and are not giving any clear direction other than to point us to the three hours chart.
With the centerlines far above all four of the technicals on the three hour chart of the EUR/USD, some upward movement is very likely. This upward movement is supported by the price action of the potential one day retracement spoken of above and what looks like a upward retracement brought on by price action on the three hour charts also. I would expect November the 27th to range around 1.5050.
