By: Bradley C. Smith
All four technical indicators, Bollinger Bands, Full Stochastics, StochRSI and RSI don't seem to have anything in store for the 18th trading day on the one day charts. Price action on the one day charts seems to suggest a upward movement that many fundamental traders agree with. One day technicals though, want a range bound market on November 18th.
Three hour candlestick charts crave some upward movement along with the price action on the same three hour charts. The news that drove the EUR/USD down on the 17th will easily be forgotten when fundamental and technical traders are reminded by their research and screens how oversold the EUR/USD is.
I would buy the EUR/USD on any sharp downward spikes on the 18th, then lock in the profit for a scalp or ride it as long as you dare.
8:30am USD est Building Permits Forecast 0.59M Previous 0.57M
8:30am USD est Core CPI m/m Forecast 0.1% Previous 0.2%
