By: Bradley C. Smith
Price action on the EUR/USD's one day chart has it ready to enjoy a small trip down to around 1.5050. The Bollinger Bands, Full Stochastics, StochRSI and RSI are far enough above each of their centerlines to signify a retracement to around the 1.5050 level on December 2nd.
The EUR/USD's price action has it riding high on the three hour chart as well, as do the same four technical indicators. A journey down to 1.5050 or lower is likely. The trek down I speak if is supported by the news below. The numbers are forecast significantly in the dollar's favor. I would short this pair's highs until this news is released.
8:15am USD est
ADP Non-Farm Employment Change Forecast -149K Previous -203K
