By: Bradley C Smith
Riding support at 1.4300, price action from the past couple weeks shows some desire to move upward. The Bollinger Bands, Full Stochastics, StochRSI and RSI on the EUR/USD pair are all as low as they can go. Each is begging to be pulled off the floor by the pair. Technical indicators are lagging however and will not tell with certainty when the next powerful retracement will happen.
All the above technicals except the RSI on the three hour chart speak of a range bound day for the remainder of December 21st. Price action since the weeks opening minutes have been ranging upward gently. A safe trade is to sell the highs in the range this pair gives for the day. That will keep your trades in line with the greater trend and take advantage of the likely range bound day.
