By: Bradley C. Smith
Price action on the daily chart is close to the mental barrier of 1.5000 and each of the four technical indicators is rather high above it's centerline for the daily chart. This pair is also straying rather far from its starting point this week and the previous day's (at least on my chart) graveyard doji candlestick (a sign of support). Bollinger Bands, Full Stochastics, StochRSI, RSI as well as price action action agree, the EUR/USD will bounce off the 1.5000 barrier November 25th.
Do the three hour charts agree with the daily charts? There are a few doji candlesticks with some hammer candlesticks to keep things moving up to the 1.5000 line. Because the news tomorrow is mixed, I do not feel 1.5000 will be broken with gusto. All four of the technicals on the three hour charts also, they are above their centerlines and would like to see the EUR/USD come down a bit. Price action and technicals agree on the three hour charts as well, short the highs when you see them.
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