By: Bradley C. Smith
Bollinger Bands, Full Stochastics, StochRSI and RSI far below their centerlines, the EUR/USD is ready to ascend. With the StochRSI far below it's center line, it is ready to pop the RSI up and as a result, in a vacuum, the EUR/USD. Price action on this daily chart is begging for a movement upward. These four technicals are ready to lift the EUR/USD back up, how far though? lets look at the smaller three hour charts for more detail.
Each indicator is prepared to move the pair up except the StochRSI. The price action even looks ready for a small retracement. No strong news related to this pair December 8th to break any uncertainty, forces us to rely on technicals and instinct if you are a purely technical trader. Strong trader sentiment for this pair is likely to keep it down tomorrow, I feel it will end the day around 1.4850, despite the technical and price action signs.
