By: Bradley C Smith
The EUR/USD's descent has stopped and the Bollinger Bands, Full Stochastics, StochRSI and RSI are starting to lift and show some comfort for the pair at the 1.4300 level. Price action still will allow for some lift and the indicators, all below their centerlines, are all more than willing to allow for a jump up in this pair.
The three hour chart's price action looks overbought at the moment and all the technicals except the RSI support that. The three hour is much shorter term though. The hard news hitting at 8:30am est will likely override the three hour charts, if the forecast numbers are vaguely accurate. Make a attempt at trading the news for fun, if all the news releases favor one direction for the EUR/USD open a position in that direction and let it ride. Move a trailing stop-loss along at your leisure.
8:30am USD est
Core Durable Goods Orders m/m Forecast 1.1% Previous -1.3%
8:30am USD est
Unemployment Claims Forecast 471K Previous 480K
